Consortium of senior creditors provides funding to Northwind NV for refinancing of offshore wind farm
Clients BNP Paribas
Jones Day advised a consortium of senior creditors consisting of Belfius Bank SA/NV, BNP Paribas Fortis SA/NV, Coöperatieve Rabobank U.A., De Volksbank N.V. trading as ASN Bank, ING Belgium SA/NV, KBC Bank NV, Natixis, Société Générale, Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Ltd., and Eksportkreditt Norge AS, on the provision of approximately €525 million in funding to Northwind NV for the refinancing of a 216 MW operational offshore wind farm located off of the Belgian coast.
Northwind NV is a project company owned by Parkwind NV, Aspiravi Offshore NV and Summit Renewable Energy Northwind Limited, a subsidiary of Sumitomo Corporation. The Northwind project consists of 72 turbines and became fully operational in May 2014.