•  
  •  
  •  

Neoen closes financing for 81-MW Finnish wind project

Nordex's N149/4.0-4.5 turbine. Source: Nordex SE

February 19 (Renewables Now) - French renewables developer Neoen has achieved the financial close for the 81-MW Hedet wind farm in Finland that will sell power to search engine giant Google.

Neoen has agreed EUR 66.5 million (EUR 75.2m) in senior debt financing for the project with KfW Ipex and SEB. The total investment required to build the wind farm is estimated at EUR 85.4 million, excluding financing costs.

The plant is currently being constructed in Narpes, western Finland, using 18 turbines of Nordex’s 4.5-MW N149 model. Upon completion, Google will buy the entire output of the wind farm under a 10-year contract to power its local data centre.

Neoen owns an 80% stake in the project, while Prokon Finland holds the rest. The French company noted that this is its maiden scheme in the country and that it plans to step up development there.

(EUR 1.0 = USD 1.131)

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription