German outfit Nord LB and Bank of Ireland have provided a £90 million (US$109.8 million) senior debt package to complete five wind farms of Energia Renewables' 73MW portfolio of onshore wind in Northern Ireland.
Across the portfolio that includes site such as Long Mountain, Eshmore, Gortfinbar, Glenbuck and Altamuskin, a total of 5 Siemens turbines and 25 Enercon turbines are being featured.
Nord said the finance was set up via a so-called accordion structure that allowed the projects to be built and commissioned in batches over the last year.
Peter Baillie, Energia Renewables managing director, said:
“This portfolio financing with Nord LB supported by Bank of Ireland has been a very efficient way to finance five wind farms, and we look forward to working together again in future.”
Gerard Pieters, Nord senior director, added the bank has financed 240MW of Energia wind since 2010.