Aquila secures financing for 147.6 MW of Swedish wind

Wind turbine in Sweden. Author: Lars Falkdalen Lindahl. License: Creative Commons. Attribution-ShareAlike 2.0 Generic

December 5 (Renewables Now) - German lender HSH Nordbank and the Netherlands’ Cooperatieve Rabobank have provided project debt for Aquila Capital's 147.6-MW Thor wind farm in Sweden.

The financing was announced on Tuesday by Watson Farley & Williams, which advised lead arranger HSH Nordbank in the financing deal. Both HSH Nordbank and Rabobank have extended long-term financing for the project. The debt is backed by Germany’s KfW IPEX-Bank.

The Thor wind park, located near the town of Gallivare in Lapland province, in Sweden's northernmost parts, was constructed by Swedish wind projects developer OX2, while a fund managed by Aquila Capital bought it in October 2016. The facility uses 41 of Vestas’ (CPH:VWS) V126-3.6 MW turbines, the output of which is being sold to Internet giant Google under a long-term power purchase agreement (PPA).

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Veselina Petrova is one of SeeNews Renewables most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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