NIBC Bank finances 28MW of UK solar projectsPress Release -
On 23rd December 2014, NIBC successfully reached financial close to provide GBP 24m of senior debt to finance the construction of two solar facilities in the UK; an 8MW plant in Wales (Llwyndu) and a larger 20MW plant in Somerset (Trowbridge). The plants are being built by European Energy A/S and upon construction completion, will be purchased by a leading institutional investor.
NIBC is becoming increasingly active in project lending in the UK. In 2014, NIBC successfully closed five deals in UK environmental infrastructure. The bank has ambitions to grow further in this sector in 2015 by engaging with project developers, construction companies and investors in the renewable energy and waste sectors across the UK, as well as the Benelux and Germany.
European Energy A/S is a Denmark based developer of renewable energy projects and an independent power producer. Since 2004, the company has developed 56 onshore wind farms and 19 solar PV plants corresponding to a total investment of more than EUR 680m. The Llwyndu and Trowbridge projects are their first developments in the UK.