News

Hurrikan Power closes Lower Saxony Windfarms Financing

This project involves ArcLight Energy Partners Fund III purchasing 14 onshore wind farms from the German arm of Dutch utility Essent.

ABN Amro Holding raised EUR 98 million to fund this acquisition. This 20-year loan will also help pay for the development of wind farms in Lower Saxony, North Germany which were purchased on the 30 April 2007 by Hurrikan Power Funding Holding, an affiliate of ArcLight Capital Partners.

The project consists of both a construction and an operational phase. The construction projects comprise wind farm developments in Endeholz, Lübbow-Bösel, Schweskau, Tarmitz; Thurauer Berg, and Tobringen while the operational projects wind farms are located in Bleidenrod, Diemelsee, Embsen, Heyen, Jettebruch, Melbeck and Neuhof.

ArcLight aims to more than double the output of the onshore wind farms from 65 megawatts to 150 megawatts. At full capacity the wind farms will produce enough electricity to power approximately 219,000 homes.

Operis conducted a review of the financial model on behalf of ABN Amro, the sole underwriter and arranger for this project.

2 July 2007