Asset managers Luxcara and MEAG have jointly secured bonds to finance two wind farms in Norway.
The “low three digit million bonds” have been privately placed with Munich Re investors, including Austrian insurance company Uniqa.
The Skinansfjellet and Gravdal wind farms are part of the Bjerkreim cluster, acquired by Luxcara in 2016, which has a total capacity of 294MW.
Both projects have long-term power purchase agreements with Facebook.
Luxcara managing partner Marc Brehm said: “We are already looking forward to realising further attractive debt financing for solar and wind projects in the near future.”
MEAG managing director Holger Kerzel said: “This project in proven partnership fulfils our high standards for a sustainable and economically successful investment.
“Private financing by MEAG is an important contribution to the maintenance and renewal of the infrastructure and to the expansion of renewable energies.”
MEAG is the asset manager of reinsurer Munich Re.