Centrica plc-DONG Energy-Siemens Project Ventures GmbH joint venture Lincs Wind Farm Ltd. has secured non-recourse project finance facilities of GBP425 million ($662.15 million) for their 270-MW Lincs offshore wind farm.
Some welcome news on the US wind energy front: E.ON Climate & Renewables North America on June 4 announced it has secured $150 million of institutional equity financing for its 150MW Pioneer Trail Wind Farm from Bank of America Merrill Lynch.
Wind and renewable energy have been growing rapidly worldwide, but for industry leaders, including India’s Suzlon, financial sustainability remains elusive. Encouraged by its recent results, a large group of banks has pledged to loan Suzlon enough money for it to cover looming bond redemptions.
The shares of Clean Wind Energy Tower have plunged even as the Annapolis company moves forward with plans to prove its utility-scale, dual wind Downdraft Tower technology at a San Luis, Arizona site.
It wasn’t smooth sailing by any means, but global wind energy investment, financing activity and installed capacity surged higher in 2011. Venture capital, company, project and M&A financing all rose with emerging markets a focal point, according to a Mercom Capital report.
866-MW of newly installed, grid-connected offshore wind energy capacity worth some 2.4 billion euros came online across the EU in 2011. Projects under construction will increase that by 62%, making further headway toward achieving the industry association’s target of having offshore wind meet 4% of EU electricity demand by 2020.
