Enel Green Power, through its subsidiary Enel Green Power International BV (“EGPI”), signed with the Danish government’s Export Credit Agency (“EKF”) and Citigroup, the latter as agent and arranger, a 12-year financing agreement for 180 million euros, guaranteed by Enel Green Power.
This financing will be used to cover part of the investments for the Enel Green Power wind farms Zephyr I in Romania, with an installed capacity of 120 MW, Caney River in the USA, 200 MW, and Cristal in Brazil, 90 MW.
Among these, the Caney River wind farm in Kansas, together with the Rocky Ridge wind farm in Oklahoma, is also part of a tax equity partnership worth around 340 million US dollars signed in December 2011 by the US subsidiary Enel Green Power North America.
The full amount of the investments for the construction of the three plants is equal to about 670 million euros.
The EKF financing is characterized by an interest rate that is in line with the market benchmark. EKF acts institutionally to support Danish companies for components used by Enel Green Power in the construction of the three wind farms.