Belwind offshore wind energy project secures financing

Financing has been secured for the construction and operation by Belwind of the 165MW first phase of the Bligh Bank offshore wind farm, located 47 km off the Belgian coast near Zeebrugge. ASN Bank, Dexia Bank Belgium and Dexia Crédit Local and Rabobank International will serve as mandated lead arrangers, and Rabobank and Participatie Maatschappij Vlaanderen as mezzanine lenders. The European Investment Bank will provide funding for an amount of €300m and is assuming, for the first time, project finance risk for an offshore wind farm.