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Portuguese seeking financing for French deal

Novas Energías do Ocidente (NEO), the renewables division of Portuguese state-owned power company Energía de Portugal, is now seeking financing for its first greenfield wind power project in the French market, a 30 MW development in Brittany which will be split into three separate 10 MW projects to be located at Legollod, Blouvien and Kerinsfouler. Banks are bidding for the mandate to provide around EUR 35 million of project financing to fund construction of the assets. NEO already owns wind farms EDP acquired through its takeover of Spanish utility Hidrocantábrico and the purchase of Spanish-based wind power company Desarrollos Eólica SA, formerly owned by Dutch utility Nuon.

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