NORD/LB Norddeutsche Landesbank is behind the financing of two wind farms for Danish project developer European Energy A/S.

The project in the German federal state of Lower Saxony involves the existing Gilmerdingen wind farm in the Heide district, where the older turbines are being replaced by more efficient and more powerful units as part of a repowering programme. From mid-2017 onwards, six wind turbines built by Spanish manufacturer Gamesa will be generating environmentally friendly electricity there, with a total output of 12 MW.

The second financing project concerns the Oppido wind farm in the province of Potenza in the Basilicata region of Italy, where work is to start in December this year on the erection of a total ten 2-MW V110-type turbines built by Danish manufacturer Vestas. The 20-MW Oppido wind farm is one of the last projects to be put on grid with a feed-in tariff under the current tender procedure in Italy. European Energy A/S is an experienced project developer, and is also responsible for the construction of the wind farm.         

Knud Erik Andersen, founder and CEO of European Energy A/S, expressed his satisfaction: "The two projects represent an important expansion of the business relationship between NORD/LB and European Energy. We are delighted to be realizing further projects on this basis towards being able to supply even more people in Germany and Italy with economically priced and environmentally friendly electricity. We regard NORD/LB as a reliable and professional partner with a wealth of local expertise ".

"NORD/LB is fostering the further advancement of the energy transition in our heartland Lower Saxony through the financing of the Gilmerdingen wind farm", commented Christoph Trestler, Global Head Structured Finance at NORD/LB. "At the same time the Italian transaction shows once again that NORD/LB with its structuring know-how is also a leader at the international level and can serve customers in parallel in several markets".