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Deal Date: 15-05-2014 Practice Area: Project Finance and Infrastructure
Deal Title: Financing for Gemini 60MW Offshore Windfarm, Netherlands Industry: Alternative Energy
On 13 May 2014 the financial close of the Gemini offshore wind farm took place. It is the largest renewable energy project in both scope and funding ever conducted in the Netherlands. The wind farm is owned by the Canadian Northland Power Inc. (60%), Siemens (20%), Van Oord (10%) and HVC (10%). This wind farm in the North Sea will consist of two blocks of 75 windmills. The 150 wind turbines will provide a capacity of 600 megawatts (MW), supplying some 785,000 households with green electricity. The financing for the construction of the wind farm totals EUR 2.8 billion. The park is scheduled to be operational by the summer of 2017 and will result in a substantial contribution to the European climate targets (Renewable Energy Directive) of 2020. The Clifford Chance team was led by Hein Tonnaer and furthermore consisted, amongst others, of Liesbeth Buiter, Mark Loefs, Nanette Rutgers, Jasper Dijkshoorn, Sarah Lewis, Folko de Vries, Willem-Jan Wieland, Arwin Lok and Tim Heerschop. Clifford Chance Amsterdam has a leading project finance practice including specialists in financial and corporate law. Apart from the Gemini Project the team has recently acted as advisor to other major Dutch wind projects, such as NOP Agrowind.
Financial Center: Amsterdam Value: 0.00-0.00
Advised Party: Equity Sponsor Law Firm
Project Location Netherlands Equity Sponsor Netherlands
Classification: Project Finance Renewable Energy Wind Farms
Lawyer Hein Tonnaer