NIBC European Infrastructure Fund refinances wind parks
NEIF Merinda Windpark GmbH & Co. KG, a subsidiary of Dutch NIBC European Infrastructure Fund I (NEIF), has refinanced an onshore wind farm portfolio in Lower Saxony and Saxony-Anhalt, Germany.
The portfolio comprises three wind farms with a total of 19 wind turbines and an overall power production capacity of 38 MW. They have been in operation for about ten years. NEIF bought the assets in 2009.
The wind farms are the following:
- Büddenstedt
- Helmstedt
- Schnellin
NEIF concluded the loan agreement on the refinancing with NordLB. The parties agreed not to disclose contract details and the refinancing amount.
Global law firm Dentons advised NEIF on the refinancing.
Dentons has a long-standing business relationship with NIBC: for a couple of years Dentons has been advising NEIF and other portfolio companies of NIBC Infrastructure Partners in the field of renewable energies; they did current consultancy as well as consultancy on questions of financing and refinancing.
NIBC European Infrastructure Fund (NEIF) is a €350 million Infrastructure Fund investing in member states of the European Union with a focus on the Benelux, Germany and the UK. The core investor base of the fund consists of large Benelux pension funds and financial institutions, including NIBC Bank. NIBC Infrastructure Partners is the general partner of NEIF and is responsible for all investment and divestment decisions of the fund. The general partner has team members located in London, Frankfurt and The Hague.
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