BayWa r.e. have sealed financing for a 66MW portfolio of wind farms in the Italian regions of Lazio and Campania. The portfolio comprises three projects: the 18MW Arlena and Tessennano wind farms in Lazio and the 48MW Eolica San Lupo wind farm in Campania.
Sole underwriter NordLB is providing a 15-year €100 million ($113.5 million) debt portion which includes some ancillary facilities. However, a second bank is expected to join the deal next week. With a 20-year feed-in-tariff priced at €66/Mwh, lenders can take comfort from there is a five-year positive tail on the 15-year debt. The margin on the debt is between 150bp-200bp.
