TAS provides services to support clean energy project powering 140,000+ Finnish households
Deutsche Bank Trust and Agency Services (TAS) has facilitated the successful financial close of the debt financing for three Finnish wind farms, developed by Luxcara, an independent asset manager in the renewable energy market
Luxcara has concluded the transaction for the wind farms comprising 38 turbines and a total capacity of approximately 163 megawatts (MW). The portfolio includes Välikangas wind farm, the Sievi wind farm and the Pihtipudas wind farm. All three wind farms are located in North Ostrobothnia, Finland and operate under a power purchase agreement with a Norwegian state-owned utility.
The facility, in which TAS is acting as Financing, Intercreditor and Security Agent, has lenders from the German and international insurance and pension fund sectors who will cover the construction and operational phase, and features senior secured promissory loan notes (Schuldscheindarlehen).
Jason Connery, head of TAS EMEA said: “We are proud to deliver our agency services to support Luxcara on yet another renewable project following the successful launch of their Norwegian On-shore Windpark Bjerkreim cluster and Spanish Solar Project Guillena Salteras.”