TXF Originals

BayWa closes 66MW Italian wind portfolio financing

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.


TXF in depth

Grand Eweng: Controlled flow or flood?
Grand Eweng: Controlled flow or flood?
Oliver Gordon
14 August 2019

Nachtigal set the financing template for hydro in Cameroon in late 2018. Now a very ambitious project more than four times the size of Nachtigal is underway, but is it too much too soon in terms of of bankability?

Al Dur 2: A Saudi nightmare on ECA street
Al Dur 2: A Saudi nightmare on ECA street
Max Thompson
13 August 2019

The $1.5 billion Al Dur 2 independent water and power project (IWPP) financing achieved a record length tenor for an uncovered local bank tranche, an indirect benefit of ECA support. But according to sources close to the deal, Saudi Exim’s direct loan debut proved a ‘nightmare’ to structure.

Risky business: Can Europe trade its way out of crisis?
Risky business: Can Europe trade its way out of crisis?
Katharine Morton
7 August 2019

In the fourth of this series of Risky Business podcasts Coriolis Technologies CEO Rebecca Harding talks to TXF’s Katharine Morton about how the internal challenges of the EU continue to pull at the union. Is trade the way out of its problems?

TXF in brief

Proyecto Corredor Vial Circuito 3 highway PPP signs
23 August 2019

A consortium led by Espina and Copasa have signed a $1.16 DFI-backed financing to fund the Proyecto Corredor Vial Circuito (Road Corridor Circuit) 3 h...

Cox resigns from ING
23 August 2019

Jason Cox has resigned from his position as director of infrastructure finance and advisory at ING and will join the National Australia Bank as head o...

Port Kemla LNG nears FID despite plans to upsize scheme
23 August 2019

Australian Industrial Energy (AIE) – comprising Andrew Forrest’s Squadron Energy, Marubeni, and JERA (a JV between Tokyo Electric and Chub...

Saint Nazaire offshore wind farm nears close
22 August 2019

The 480MW €3.2 billion Saint Nazaire offshore wind farm in France – a joint venture between France’s EDF and Canada’s Enbridge ...

Rock Rail and JII signs £400m rolling stock financing
22 August 2019

Rock Rail and Japan Infrastructure Initiative (JII) has signed the £400 million rolling stock financing backing a new fleet of intercity Hitachi...