Massive offshore wind farm project now financed and underway in the North Sea: NewsTarget.com

A 120-megawatt electrical wind farm in the North Sea, 23 kilometers (14 miles) off the coast of the Netherlands, was made possible only through a unique financing scheme in which a group of international banks covered all the costs of the project, and will be paid back entirely from its eventual profits.

The project's $510 million price tag, including construction costs, is being entirely covered by loans from a group of international banks. The financing is described as "non-recourse," meaning that the principal and interest from the loan will be repaid solely from the profit generated by the project.

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Massive offshore wind farm project now underway in the North Sea: NewsTarget.com

http://www.newstarget.com/021804.html

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