Financial close for 50 MW Kincardine floating wind farm project in Aberdeen bay

Natixis has acted as sole green loan coordinator for the GBP380 million (US$472.4 million) financing for Cobra Instalaciones y Servicios S.A. of Kincardine Offshore Windfarm Limited. The project comprises the construction of a 50 MW floating offshore wind farm, located south-east of Aberdeen, Scotland, which will be the largest floating offshore wind farm in the world when completed.

Natixis was also one of the mandated lead arrangers, underwriters and book runners for the transaction, which closed on June 12th, 2020.

Kincardine will consist of six turbines (one 2 MW and five 9.5 MW, all supplied by MHI Vestas) installed on semi-submersible floating structures designed by Principle Power located in water depths ranging between 60-80 meters. The project is expected to be fully operational by the fourth quarter of 2020.