Cases & Deals

Consortium provides €900 million financing for Belgium's largest offshore wind farm

Clients Consortium of senior lenders

Jones Day advised a consortium of senior creditors, consisting of ABN AMRO Bank N.V. Belgian Branch; Belfius Bank SA/NV; BNP Paribas Fortis SA/NV; The Bank of Tokyo-Mitsubishi UFJ, Ltd.; Coöperatieve Rabobank U.A.; Sumitomo Mitsui Banking Corporation; Sumitomo Mitsui Trust Bank, Limited (London Branch); Société Générale, London Branch; European Investment Bank; and EKF Danmarks Eksportkredit, in connection with the financing of Norther's approximately €1.2 billion total required investment for developing and constructing a 370 megawatt offshore wind farm. The wind farm will be located in the North Sea (south of the Thornton Bank), approximately 22 kilometers north of Ostend (Belgium).

Norther is a project company owned by Elnu NV (part of the Elicio group) and Boreas Wind Offshore, a joint venture between the Eneco group and the Mitsubishi Corporation group. Construction of the wind farm, consisting of 44 Vestas turbines, is expected to be completed in 2019.