The investor syndicate was led and represented by MEAG Munich ERGO AssetManagement GmbH and Deutsche Bank Luxembourg S.A. as agent. The renewable investors Luxcara GmbH and MEAG have structured project bond financing for the 155.4-MW wind farm that will be based on a long-term power purchase agreement with the social network giant, Facebook.
The Eikeland-Steinsland wind farm is part of the 294-MW Bjerkreim cluster of wind farms in the south-west of Norway, owned by Luxcara. The wind farm is the largest in the complex, which also features the 63-MW Gravdal and 76-MW Skinansfjellet sites. The commissioning and construction of the entire Bjerkreim cluster is expected by the end of 2019. The total investment in the project exceeds EUR 400 million.
The Thommessen team in Oslo which advised on the transaction was led by partner Ellen Teresa Heyerdahl and included partner Jens Naas-Bibow and associates Pernille Engstrøm Skaug, Ole Christoffer Ellingsen, Martin Hugo Starberg and Morten Coward Lindstad.