Independent asset manager Luxcara and Munich Re asset manager MEAG have structured a project bond to finance the 155.4MW Eikeland-Steinsland wind farm in Norway.
The financing initiative, whereby project bonds have been privately placed with Munich Re investors, was based upon a long-term power purchase agreement signed with Facebook.
Luxcara managing partner Alexandra von Bernstorff said: “We are very happy to have initiated and structured together with MEAG a project bond for a renewable energy project with a PPA in Europe.”
MEAG managing director Holger Kerzel said: “We like to invest in renewable energy and we like to support the energy transition from fossil fuels to renewable energy. “Financings of the private sector are an important contribution for the development of renewable energy.”
Image: Pixabay
Bonds lift 155.4MW Nordic wind
By EBS