322 MW wind project in Zeewolde gets refinancing

The Nederlandse Waterschapsbank (NWB Bank) and the Danish export credit insurer EKF have joined the Rabobank as co-financiers of the 322 MW wind farm in the Netherlands.

The financing of Windpark Zeewolde was reached at the end of June by means of a loan of approximately EUR500 million (US$560.9 million) from Rabobank.

Construction of the wind turbines is expected to start in the first quarter of 2021. The entire wind farm will be completed in 2022 and it will be the largest onshore wind farm in the Netherlands and the largest community wind farm in Europe. The wind farm will generate electricity for more than 250,000 local households.

Windpark Zeewolde BV was advised by Norton Rose (legal advisor), Incredible and GreenGiraffe (Financial Advisors). The lenders were advised among others by Clifford Chance (legal) and MottMcDonald (technical).