HSH finances Europe’s largest wind farm: Electricity for 500,000 households
Hamburg/Kiel, November 11, 2017 - HSH Nordbank as part of a syndicate of banks is financing Europe’s largest wind farm installation with an amount of Euro 500 million, the 650-MW Mark-bydgen ETT project in North Sweden. In addition to HSH Nordbank, the syndicate includes Nord LB, KfW IPEX, the EIB and Euler Hermes. On completion, the wind farm will have a total capacity of 650 megawatts (MW) - a volume large enough to supply well in excess of 500,000 households with power for one year.
GE Energy Financial Services and Green Investment Group Limited, as part of the Macquarie Group, are have raised approximately EUR 800 million for this project, which acquired from project developer Svevind .. GE supplied 179 wind turbines for Markbydgen ETT. All turbines are expected to be in operation by the end of 2019. According to GE, it is one of the world’s leading providers of wind energy technologies with more than 34,000 installed wind energy plants
“With this lighthouse project, which will cause attention in the global industry, we are once again highlighting our position as one of the leading providers of finance for renewable energy projects in Europe”, said Lars Quandel, Head of Energy & Infrastructure at HSH Nordbank. On top of this, the transaction will pave the way for further financing in the Scandinavian market, which is an important market for HSH Nordbank. Quandel: “We intend to make further use of this success.”
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