HSH to finance wind farm Linda in Saxony-Anhalt for the ERG Group

Alternative Sources of Energy, Banking, Energy, Finance — By on January 3, 2019 at 8:05 AM

Lars Quandel

HAMBURG/KIEL HSH Nordbank will provide the ERG Group with long-term project finance amounting to € 24 million for construction and operation of the Linda wind farm located near Elster in the German state of Saxony-Anhalt. The farm with six GE 3.6/137 wind turbines will go into operation in the first half of 2019 and generate a total output of 21.6 megawatts (MW). The project was awarded following the tender in May 2018 and will, on that basis, receive a rate of return fixed for 20 years.

The ERG Group originates as an Italian oil company based in Milan and Genoa. For more than ten years now, the company has been investing in renewable energy projects and is meanwhile also very active and successful in Germany and France.

“We already worked very well together with ERG in the past and look forward now to resuming this constructive client relationship, which we will be pleased to step up even more, with the Linda wind farm,” said Lars Quandel, Head of Energy & Infrastructure at HSH Nordbank.

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