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Encavis AG has concluded non-recourse project finance for two solar photovoltaic projects in Denmark: the 34 MWp Svinningegarden project in the northwestern part of Zealand and the 71 MWp Rodby Fjord project in Lolland, in the southwestern part of Zealand, Denmark.
European Energy sold the two solar projects to Encavis AG at the end of 2021. They generate electricity in accordance with 20-year power purchase agreements (PPAs).
Rabobank has issued a EUR32 million (US$31.3 million) loan that expires on June 30, 2040. The principal component of the financing consists of a term facility that is completely secured by an interest rate swap and a cross-currency swap for the whole loan duration.
