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20 December 2017 / press release

Loyens & Loeff congratulates Belwind with the refinancing of its offshore wind farm

On 20 December 2017 Loyens & Loeff advised Belwind to secure approximately EUR 400,000,000 in funding for the refinancing of its 165 MW operational offshore wind farm, consisting of 55 wind turbines, located on the Bligh Bank, 46km off the Belgian coast. The closing took place in our offices in Brussels.

The refinancing is provided by a consortium of senior creditors consisting of Belfius Bank SA/NV, BNP Paribas Fortis SA/NV, De Volksbank N.V. trading as ASN Bank, KBC Bank NV, Société Générale, and Sumitomo Mitsui Banking Corporation as Lenders.

Loyens & Loeff assisted the Belwind team and its shareholders from the early stages up to financial close. We provided regulatory advice, conducted the legal due diligence and negotiated the various finance documents.

Extensive Project Finance experience

The Loyens & Loeff projects team, led by Marc Vermylen, has extensive experience with renewable energy projects. The team also acted as counsel to Nobelwind (165 MW), Northwind (216 MW) and Norther (370 MW) in relation to the financing and the construction of their offshore wind farms in the North Sea. It also assisted the lenders and arrangers with the non-recourse financing of the different phases of the C-Power (325 MW) and Rentel (309 MW) wind farms. Loyens & Loeff can proudly state to be the only firm that has assumed an instrumental role as legal advisor in the financing and development of all 6 offshore wind parks for the Belgian coast which have reached financial close to date and also assisted three offshore parks on their refinancing.



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