HSH Nordbank finances 37.9 MWp Vandel 2 solar project in Denmark

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HSH Nordbank finances 37.9 MWp Vandel 2 solar project in Denmark

HSH Nordbank, a German financial services provider, has announced it will finance part of the construction of a 37.9 MW PV plant in Vandel/Billund, in the Danish southern province of Jütland.

HSH Nordbank will provide a long-term financing of €23 million (US$25.1 million) to Danish developer CM Finans for Vandel 2. Watson Farley & Williams will advise HSH Nordbank on the financing of the project.

WFW's Lead Partner, Thomas Hollenhorst, said:

“We are delighted that we have been able to use our significant experience in cross-border energy projects to assist our long-standing client HSH Nordbank on their further business expansion in Scandinavia.”

As we covered, HSH Nordbank is providing project financing to Danish renewables developer European Energy for the construction of two onshore wind parks, the Haukineva and Jeppo projects located in southwestern Finland.

HSH Nordbank, a year earlier, provided a €64.5 million (US$70.4 million) loan for the 50.4 MW Vandel solar park, which started commercial operation in December 2015, to European Energy A/S.

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