Language: 
1st September 2008
SgurrEnergy has advised a consortium of three banks for the project financing of Sweden's largest onshore wind project. HgCapital bought a 75 per cent share of the Havsnas wind farm development in northern Sweden from RES Skandinavien, with Commerzbank, ING Bank N.V. and NordLB providing the project finance loan facility for the project over a 17-year period. RES Skandinavien retain the remaining 25 per cent share. SgurrEnergy provided full mechanical due diligence for Commerzbank, ING Bank N.V. and NordLB, and the investors HG Capital and RES Skandinavien. Simon Luby, Head of Due Diligence at Glasgow-based SgurrEnergy, said: "This high profile assignment was completed within a challenging timescale, through the pro-active attitude of all parties involved, and allowed us to utilise our full technical, commercial and energy yield expertise. Havsnas is one of many major lenders engineer assignments completed already this year, confirming our position as one of the leading international renewable energy consultancies.” The 48-turbine Havsnas wind project is currently being constructed by RES Skandinavien and will enter commercial operation in phases from November 2009 to April 2010. It will be the first merchant wind farm in Scandinavia and is the largest energy project financing in the Nordic market. SgurrEnergy is undertaking construction monitoring on behalf of the lenders and investors.
For more information
© SgurrEnergy Ltd. Registered Office 225 Bath Street Glasgow G2 4GZ. Tel.: +44 (0)141 227 1700
Registered in Scotland No. 245814 Vat No. GB 797 0474 85
