Senvion has signed an agreement which includes the delivery of turbines for up to 300 MW projects in Spain with Alfanar, which received the largest wind allotment of 720 MW.
Energy Finance & Investment News in Europe
Mutual Energy has secured GBP200 million (US$260.0 million) financing from Legal & General to cover construction costs of the Gas to the West project. This involves the delivery of an 80km extension to the existing gas network in Northern Ireland through a mainly underground pipeline running from Portadown to (near) Enniskillen.
The European Investment Bank (EIB) has disclosed that Alfanar Company, an industrial manufacturing and construction group based in Saudi Arabia, is seeking a EUR385 million (US$449.5 million) loan for a 547 MW wind project in Spain, with a total estimated investment of EUR643 million (US$750.8 million).
The Europe Investment Bank (EIB) has signed a EUR500 million (US$585.6 million) loan agreement, the first tranche of a total EUR650 million (US$761.3 million) funds approved, for a major hydropower project in Portugal being developed by Iberdola.
Green Investment Group (GIG), the specialist green energy principal investment business of Macquarie Group, has closed EUR270 million (US$316.4 million) financing for the 235 MW Överturingen wind project, located in central Sweden.
FCC has secured GBP207.3 million (US$275.5 million) senior long term investment grade debt to refinance two energy from waste (EfW) assets in the United Kingdom: the Allington plant in Kent and Eastcroft facility in Nottingham.
Merkur Offshore has successfully amended the financing agreements for its 396 MW wind project, securing more competitive terms for senior debt amounting to EUR1.5 billion (US$1.76 billion). This will fund the installation of 66 wind turbines in the German North Sea, approximately 45km north of Borkum.
Macquarie Infrastructure and Real Assets (MIRA) has announced the final close of Macquarie Super Core Infrastructure Fund (MSCIF) Series 1 at EUR2.5 billion (US$2.94 million), exceeding the fund's initial minimum target of EUR1.5 billion (US$1.76 million).
Germany's Federal Network Agency for Electricity, Gas, Telecommunications, Post and Railway (Bundesnetzagentur) has launched the country's third onshore wind auction of 2018. The agency plans to allocate 670 MW.
E.ON SE has successfully completed the sale of its 46.65 percent stake in Uniper SE to Fortum Corporation.
The SUSI Energy Storage Fund (SESF) has reached the final closure having received capital commitments of €252 million (US$292,62 million) from institutional investors in Germany, the Netherlands, Austria, Sweden and Switzerland.
The Blauwwind Consortium has announced financial closure on the Borssele III and IV wind farms in the Dutch North Sea. This sets in motion the construction and subsequent operation of 77 V164 9.5 MW turbines produced by MHI Vestas, with a total installed capacity of 731.5MW.
The Business and Energy Secretary, Greg Clark, of the UK government has announced that the proposed Swansea Bay tidal lagoon, which would generate 320 MW of electricity and cost GBP1.3 billion (US$1.71 billion) to develop, does not meet the department's requirements for value for money, and so the government will not grant any public funds to the project.
Asper Investment Management and the Craydel Group have announced the financial close of a 35 MW onshore wind farm in County Galway, in the west of Ireland.
Climate Fund Managers has announced the third close of Climate Investor One (CIO), one of the world’s largest renewable energy development and financing initiatives for developing country investments, at US$535 million. The fund manager has raised an additional circa US$75 million since the second close.
The Ministry of Energy and Natural Resources of the Government of Turkey is seeking developers for a 1,200 MW offshore wind farm, intended to be the largest in the world.
REDEN Solar has completed the refinancing of the majority of its French assets, successfully raising a total of EUR270 million (US$312.8 million).
Sonnedix has announced the close of non-recourse refinancing of a portfolio of 12 photovoltaic plants in Spain with a total installed capacity of 30.4MWp at a total value of EUR140 million (US$162.5 million).
E.ON has announced the successful close of the syndication of EUR5 billion (US$5.88 bilion) financing for its acquisition of Innogy, an energy company based in Essen, Germany, with revenue of around EUR44 billion (US$54.3 billion) (2016), more than 40,000 employees and activities in 16 countries across Europe.
Pan-European equity fund Marguerite II has invested in City Green Light, one of the largest private operators of public lighting in Italy. This follows the investment by Fondo Italiano per l’Efficienza Energetica (FIEE) – the first Italian equity fund entirely dedicated to investing in projects in the energy efficiency sector – in February 2018.