Euro 225 Million Finances Wind Project Grab

[RenewableEnergyAccess.com] International wind energy company Renewable Energy Systems (RES) Group has closed a deal to finance further significant growth of its European wind powered generation business. Through the financing process, “Project Astraeus”, facilities totaling Euro 225 million (USD 290 million) have been arranged for the refinancing of existing investments and the construction and term financing of five new wind farms. Upon completion of the new projects, RES will own a geographically diversified portfolio of 200 MW of wind energy capacity in the UK , Ireland and France. The Astraeus facilities are fully underwritten by three Lead Arrangers: Bank of Tokyo -Mitsubishi BNP Paribas; and Royal Bank of Canada. The financing comprises flexible portfolio project finance facilities for 14 projects which can be extended to incorporate further projects in the future.
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