NORD/LB And BayWa R.e. Close Financing For Three Italian 66 MW Wind Farms
BayWa r.e. and NORD/LB Norddeutsche Landesbank have successfully completed the financing of three new wind farms in Italy with a total volume of more than 100 million euro. The wind farms are currently constructed by BayWa r.e. (Munich) in the Italian regions of Lazio and Campania and have a total output of around 66 MW.
The projects Arlena and Tessennano have been built in the correspondent towns in the Lazio region and consist of nine Vestas V110 turbines with an output of 18 MW. Commissioning took place in October 2018.
The third wind farm Eolica San Lupo in the Campania region features 16 Vestas V117 turbines with a capacity of 48 MW. Commissioning is planned for July 2019.
Heiko Ludwig, Global Head NORD/LB Structured Finance: "We gladly support BayWa r.e. to promote the transition to renewable energy in Italy. With the current financings we show that we accompany our customers with qualified consulting and services not only regarding a wide variety of technologies, but also across European borders.”
Alessandra Toschi, Managing Director of BayWa r.e. Italia Srl., underlines: After more than 10 years of development, we are now close to the completion of the projects. San Lupo, consisting of 16 wind turbines, is one of the most powerful wind farms in Italy, and we have been also involved in the construction of a complex grid connection. We are very pleased that with NORD/LB we found a strong partner for financing the projects.”
The generated amount of green electricity will support Italy's contribution to the overall EU target of 32 percent energy production coming from renewable energies by 2030.
Already in 2018, NORD/LB had realized the financing of the construction of the solar park Don Rodrigo in Spain for BayWa r.e. This project was the first of its size to be realized entirely subsidy-free. By financing the three Italian wind farms, the companies successfully continue their long-term cooperation.