NORD/LB Norddeutsche Landesbank is providing the finance for the acquisition of two AgustaWestland AW139 helicopters by leasing company LCI Helicopters. The helicopters will be used to provide supplies to wind parks in the North Sea. The total asset value is in excess of $ 30 million (around € 27 million). This is the first time NORD/LB has provided finance in this asset class.

The two 17-metres-long, 5-metres-tall helicopters are custom-made and are both fitted with a dual hoist system. They both have two Pratt & Whitney engines, a top speed of 167 knots (around 270 km/h) and can climb 2,000 feet (a good 600 metres) per minute. The helicopters can be used to lower both materials and people onto the platforms of wind power plants.

Both helicopters will be leased and used by the German company Heliservice international GmbH. The Bremerhaven-based company specialises in providing supplies to offshore wind parks from the air.

“With this finance, we have successfully entered a new asset class. It fits in very well not only with our other aircraft financing activities, but also with our involvement in the area of renewable energies,” explained NORD/LB Managing Board member Eckhard Forst. “It is also another step towards achieving greater diversification in our portfolio.”

Jaspal Jandu, Chief Financial Officer of LCI, commented: "As a Group, we have a deep and longstanding relationship with NORD/LB and are delighted to be the preferred partner for their first helicopter sector facility. This transaction diversifies us both further in the green energy transportation space, as well as introducing a strong new lender into the leasing LCI platform."