Developers offered easier terms on wind project loans

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Developers of wind projects and some other renewables are being offered longer loan repayment terms by Finnvera, a state funded overseas investment company based in Helsinki. Under the new credit program, renewable projects may be allowed terms of up to 15 years, with applications for the longer term loans restricted to wind and geothermal energy, tidal and solar power and related export products and services. "The primary purpose of the longer repayment term is to promote export projects, export products and services associated with wind and other forms of renewable energy," says Finnvera's Topi Vesteri. Normal credit risk considerations are being used by Finnvera to assess individual applications, he adds.

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