Northwind reaches financial close

The EUR 595 M Northwind financing, where Green Giraffe advised the borrower, closed on 28 June 2012. Here’s the press release describing the transaction, as provided by Green Giraffe at the time.

Green Giraffe was financial advisor to Northwind in the closing of a EUR 595 M long term financing for its 216 MW offshore wind project

Green Giraffe, the leading renewable energy financial advisory firm, is pleased to confirm that it acted as financial advisor to the project company in its successful closing of EUR 595 M long term facilities for the Northwind 216 MW offshore wind project off the Belgian coast.

This 15-year post construction transaction demonstrates that it is still possible to raise long term funding at attractive conditions for good projects in the offshore wind sector, and presents a number of firsts, (foran offshore wind farm) including:

• the first tranche to be guaranteed by the export credit agency of Belgium (ONDD),
• the first tranche to be guaranteed by the export credit agency of Norway (GIEK), and
• the first tranche to be funded by PensionDanmark.