C-power reaches financial close

The EUR 913 M financing of project C-Power, a 325 MW offshore wind farm in Belgium owned by a consortium of Belgian and international investors, where Green Giraffe advised the borrower, closed on 25 November 2010. Here’s the press release describing the transaction.

C-Power EUR 1,289 M investment financing for the construction and operation of a 325 MW offshore wind farm

C-Power is pleased to announce that it has closed the financing of the second and third phases of the offshore wind farm on the Thornton Bank (located about 30 km in the North Sea off the Belgian coast). A group of 7 commercial lenders: KBC, Rabobank, Société Générale, KfW Ipex-Bank, Commerzbank, Dexia and ASN Bank together with export credit agencies Euler-Hermes of Germany and EKF of Denmark, and the European Investment Bank will provide between them long term facilities totalling EUR 869 M.

Click here for the full press release