EIB, Natixis to provide EUR-97m loan for new wind farm in Sicily

The European Investment Bank (EIB) and Natixis Corporate and Investment Banking (Natixis CIB) will jointly provide a loan of EUR 97 million (USD 107.9m) to Libeccio Srl for a new 44.8-MW wind farm in Sicily.

The agreed transaction includes long-term EIB financing of around EUR 42 million and medium- and long-term financing of around EUR 55 million from Natixis CIB, the EIB said in a press statement on Monday.

The project, dubbed Vento di Vino 2, will be built in Mazara del Vallo in the province of Trapani and will be an extension to a 24-MW wind farm that has been in operation since late 2011. The new site is expected to be commissioned by 2026 and generate enough clean electricity to power more than 56,000 homes annually.

In addition to the construction of the new wind farm, the finance contracts signed will help refinance the residual debt of Libeccio, which owns the existing Vento di Vino 1 wind farm.

Libeccio is an investment vehicle owned by renewables firm Fabbrica Energie Rinnovabili Alternative Srl (FERA), with a stake of 81.55%, and investment and consulting company Byom Srl, which is a minority shareholder with 18.45%.

(EUR 1 = USD 1.113)

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