HSH Nordbank pools financing for five wind farms in Hesse and Lower Saxony
Hamburg/Kiel, February 24, 2012 - HSH Nordbank is assisting five wind farms in Germany with portfolio debt financing amounting to EUR 32 million. The borrower is Hurrikan Power Funding Holding GMBH, an affiliate of ArcLight Capital Partners, LLC.
The 38 windturbines have total power generation capacity of 72.4 megawatts and are thus able to produce the electric energy requirement of approximately 25,000 private households p.a.
The five farms were constructed in Lower Saxony and Hesse between 2004 and 2009 using turbines manufactured by Enercon, northern Germany's turbine producer. The portfolio was previously financed through a multi-bank credit facility. By pooling the portfolio, HSH Nordbank is providing the entire financing of these profitable turbines. "Germany remains the core market for HSH Nordbank", said Lars Quandel, Head of Origination Energy at HSH Nordbank. Moreover, the financing of existing wind farms underscores the confidence in the technology of Aurich-based turbine producer Enercon, with whom HSH Nordbank has a long-standing business relationship.
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