Estonia-based renewable vitality producer Enefit Inexperienced AS (TAL:EGR1T) stated immediately it has signed agreements with two banks for EUR 325 million (USD 344.5m) in loans to finance its ongoing funding programme.
The corporate has agreed on a EUR-100-million, 12-month mortgage with Nordic Funding Financial institution (NIB) and as much as EUR 225 million in financing with SEB for seven years.
Enefit stated it has taken remaining funding choices (FIDs) and began building work on six wind farms and 4 photo voltaic parks totalling 596 MW in Lithuania, Estonia, Poland and Finland. They’re anticipated to be accomplished over the subsequent couple of years and can improve the corporate’s whole capability to 1,053 MW.
The tasks that can profit from the brand new debt financing are the Sopi-Tootsi, Kelme I and Tolpanvaara wind farms in Estonia, Lithuania and Finland, respectively, in addition to the Purtse photo voltaic plant in Estonia.
(EUR 1 = USD 1.060)