European Energy: Seizing an interesting opportunity in a short time frameCorporate News -
European Energy came to NIBC with an interesting proposition: to secure a significant upside heading towards a tariff drop, both the developer and financing partner required fast action. Within just four weeks, NIBC sealed a GBP 10 million loan for partial financing of six solar energy projects.
The Danish-headquartered developer, for whom the NIBC infrastructure & renewables team closed a GBP 23 million construction bridge facility in 2014, came to us this time for six UK projects with a combined capacity of 30 megawatts (MW).
NIBC’s deep sector experience across the core renewables sectors of wind, solar and waste, as well as our streamlined internal processes, enabled us to meet the client’s compelling but demanding timeline of four weeks from first enquiry to funding. By cooperating closely across different teams within the bank, we supported European Energy to act decisively to capture opportunities in what is a fast-moving market.
European Energy has acquired or developed 59 wind farms and 27 solar parks across Europe with an installed capacity of 681MW. In addition, NIBC Investment Partners is a joint shareholder with European Energy in a 46MW German onshore wind portfolio and a 300MW Danish near-shore wind development/investment Project Omø.