White & Case Advises NORD/LB and EKF on Financing of Italian Onshore Wind Park
Global law firm White & Case LLP has advised NORD/LB Norddeutsche Landesbank Girozentrale and the Danish export credit agency Eksport Kredit Fonden (EKF) on the project financing for the Italian wind park Melfi.
The financing included a guarantee issued by EKF and a refinancing provided by KfW-Bankengruppe. The sponsors are BayWa r.e. renewable energy GmbH and Italian investors as partners of a joint venture established for the wind park. In addition, BayWa r.e. renewable energy GmbH, which is owned by BayWa AG, is responsible for the technical and commercial operation of the wind park through one of its subsidiaries.
The Melfi wind park is located in the province of Potenza, in the southern Italian region of Basilicata, and has 14 Vestas turbines each with a 3.3 megawatt capacity. Construction has started and it is planned that the wind park, which will have a total output of 46.2 megawatts, will be put into operation in July 2015.
The White & Case team in Hamburg which advised on the transaction was led by partner Florian Degenhardt and included counsel Beate Treibmann and associate Alexander Nefzger.
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