Dexia finances a wind farm in the north of France
Published on
: 02/03/2010
Dexia is playing the role of Mandated Lead Arranger and lender in the financing of this project.
- Dexia was selected by a French wind farm developer to act as Mandated Lead Arranger (MLA) together with another financial institution. The project receiving financing is for the construction of a 44 MW wind farm in the French départements of Nord, Pas-de-Calais and Somme.
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- Dexia is the lender of over half of the debt. Its maturity will be 15 years, corresponding to the duration of the EDF fixed-tariff power purchase agreements.
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- The operation was arranged by project finance management, with the support of the trading room to set up rate coverage, legal counsel and third-party consulting.
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- "Our relationship with this developer started on the occasion of another wind farm transaction in which we participated", said Clémentine Tassin, energy-environment project manager in project finance management. "This MLA title is important for us: it reinforces our market visibility as it is a form of recognition of our expertise in structuring debt for renewable energy projects."
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- All of the wind farms will be completed by September 2011.