Windfor, wholly-owned subsidiary of Vector Cuatro, has acted as Lenders’ Technical Advisor in the refinancing of three wind farms in Italy with first green loan. The three projects, owned by Cubico Sustainable Investment, total more than 99 MW.
As Lender’s Technical Advisor, Windfor provided Technical Due Diligence services including permitting, grid connection and regulatory fulfilment assessment, land leases assessment, equator principles assessment, energy assessment, contracts assessment, engineering assessment, tariff assessment and OPEX assessment.
The green loan complies with the Green Loan Principles and has been supported by infrastructure firm AECOM.
The 99MW portfolio comprises three operational projects located in Campania, Apulia and Basilicata (Italy), ranging from 17.5MW to 54.4MW.
The total amount of the project finance was around EUR 173 million, in which Banco Bilbao Vizcaya Argentaria (BBVA), Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB), Siemens Financial Services and Société Générale acted as structuring mandated lead arrangers. Credit Agricole CIB also acted as agent of the financing and issuing bank, with Credit Agricole Italia as account bank.
Currently, Windfor and Vector Cuatro counts on a considerable track record in the Italian market and embraces experience of more than 18 GW as Technical advisor, providing a wide range of services that include owner’s engineering services, on-site technical audits, technical due diligences, vendor due diligences or O&M tenders, among others.