Major financings for big Portugal wind projects

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France's EDF Energie Nouvelles has signed two financing deals worth a combined EUR 500 million for wind projects in Portugal. The first agreement, for EUR 325 million, is for construction of the 240 MW Alto Minho I project being developed by EDF EN together with Spanish group Endesa and Portuguese group DST under the joint venture name Ventominho. Spread across several municipalities in northern Portugal, it is due online in 2008. The second deal is for EUR 175 million and covers construction of the 112 MW Arada development in central Portugal, which is wholly-owned by EDF EN and due online in 2009. Both projects will use 2 MW turbines. To date, the French firm has installed 144 MW in Portugal. The finance deals are with two banking syndicates, one comprising Barclays Bank, Caixa-Banco de Investimento, and Caixa Geral de Depósitos and the other comprising Millennium bcp, Millennium Investment Banking, and the European Investment Bank making its biggest deal in wind as yet (page 74).

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