Futuren secures funds for 18-MW wind park in France

French wind power company Futuren SA (EPA:TEO) said Monday it has obtained the required project financing for its 18-MW Chemin Perre wind farm in France’s Aube department.

Under the terms of the agreement, the non-recourse long-term loan is secured by the cash flows that will be generated by the wind park in the future. The independent power producer (IPP), known as Theolia until recently, did not disclose the exact amount of the credit facility, nor the name of the lender.

Earlier this month, Futuren initiated construction of the 18-MW wind power plant. It awarded a contract to an unnamed firm for the supply of nine 2-MW turbines in July and signed a 15-year maintenance services agreement.

The wind farm will be built in the Nogentais community of communes, on the territory of the towns of Montpothier and Villenauxe-la-Grande. Upon completion in the second half of 2016, it is expected to produce enough green power to meet the annual electricity consumption of about 21,000 local homes.

The company operates 882 MW of wind farms in Germany, France, Morocco and Italy, and has 200 MW of projects under or nearing construction in France and Morocco.

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