£425 million Lincs Wind Farm project financing agreements finalised

Lincs Wind Farm Limited, a joint venture between Centrica plc, DONG Energy and Siemens Project Ventures GmbH, has finalised agreements to provide non-recourse project finance facilities for the 270 MW Lincs offshore wind farm.

The facilities, totalling £425 million, will be provided by a consortium of 10 commercial banks.

Lincs Wind Farm Limited is a Joint Venture between Centrica (50%), DONG Energy (25%) and Siemens Project Ventures GmbH (25%).

Construction of the wind farm commenced in 2010. First power is expected to be achieved in the second half of 2012 and the asset is expected to be fully operational in the first half of 2013.

The consortium of 10 commercial banks consists of Abbey National Treasury Services Plc (trading as Santander Global Banking & Markets); BNP Paribas; Nordea Bank; Skandinaviska Enskilda Banken; Unicredit Bank; DNB Bank; HSBC Bank; KfW IPEX-Bank; Lloyds TSB; The Bank of Tokyo-Mitsubishi UFJ.