HSH Nordbank will provide the ERG Group with long-term project finance amounting €24 million for construction and operation of the Linda wind farm located near Elster in the German state of Saxony-Anhalt.
The wind farm, with six GE 3.6/137 wind turbines, will go into operation in the first half of 2019 and generate a total output of 21.6 MW. The project was awarded following the tender in May 2018 and will, on that basis, receive a rate of return fixed for 20 years.
The ERG Group originates as an Italian oil company based in Milan and Genoa. For more than ten years now, the company has been investing in renewable energy projects and is meanwhile also very active and successful in Germany and France.
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