Visit windpowermonthlyevents.com for the latest on our upcoming conferences and webcasts

Italy

Italy

Falck gets funding for Italy's largest wind project

ITALY: Falck Renewables, the London-based wind energy unit of Italy's Falck Group, has finalized a €230 million project financing deal for what is set to become Italy's largest wind farm.

A 2 MW Enercon turbine at Falck's 138 MW Buddusò-Alà dei Sardi wind farm, currently under construction
A 2 MW Enercon turbine at Falck's 138 MW Buddusò-Alà dei Sardi wind farm, currently under construction

The 138MW project, is being constructed in the Sardinian municipalities of Buddosò and Alà dei Sardi, and should be operational next year.

A pool of lenders composed of Unicredit Corporate Banking, Banca Infrastrutture Innovazione e Sviluppo (BIIS), Banca IMI, ING Bank, The Bank of Tokyo-Mitsubishi UFJ, MPS Capital Services Banca per le Imprese and Mediocreval have financed the project.

A first tranche of €54 million has already been issued. A portion of the loan has been guaranteed by Italian credit management agency SACE.

The transaction stands out in what is generally a poor environment for financing wind deals in Italy. Uncertainty over the likely evolution of incentive prices for wind energy has made banks increasingly cautious towards the sector.

This is the second big wind project-financing loan Falck has sealed this year, after its 80MW wind farm in San Sostene, Calabria received €150.5 million from lenders.

Annual electricity production at the Buddosò- Alà dei Sardi wind farm is expected to exceed 300GWh and to meet the electricity needs of more than 110,000 households.

The Falck Group is currently merging Falck Renewables with its other renewable energy activities, a process that should be completed later this year.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
[DAYS_LEFT] days Subscribe Now

Left of your Windpower Monthly free trial

Your free trial Subscribe Now

to Windpower Monthly has expired

Windpower Monthly Events

Search more than 4,500 companies in the Windpower Directory

Latest Jobs