ING finances 57.3 MW wind project in Finland

ING Wholesale Banking has announced that it has structured and arranged EUR70 million (US$79.9 million) project financing for the Lakiakangas onshore wind farm, located in Karijoki and Isojoki, Finland. The project sponsor is CPC Germania.

The Lakiakangas wind farm comprises two operational Vestas V126 wind turbines with 3.45 MW capacity each. A further 12 Vestas V150 wind turbines with 4.2 MW capacity each will be in operation by September 2019. While the V126 are fully operational and generate revenues under the Finnish FiP tariff, the new V150 turbines will be remunerated under a 10-year corporate power purchase agreement (PPA) with Google.