January 3 (Renewables Now) - German commercial lender HSH Nordbank said today it will provide EUR 24 million (USD 27.4m) in long-term project finance for the construction and operation of a 21.6-MW wind park in the state of Saxony-Anhalt.
Italian energy company ERG SpA (BIT:ERG) will benefit from the financing to realise its Linda wind project near Elster. The particular scheme calls for the installation of six GE 3.6/137 wind turbines.
Windpark Linda GmbH & Co KG, a unit of ERG, was awarded the Linda project in the onshore wind power auction that took place in May 2018. According to HSH Nordbank’s statement, the wind farm is expected to become operational in the first half of 2019.
Upon completion, the plant will receive a a rate of return fixed for 20 years, the bank noted.
(EUR 1.0 = USD 1.140)