NorldLB closes financing for 20 MW onshore wind project in Italy

German lender NordLB has completed the EUR-25-million (USD 27.48m) financing for a 20-MW onshore wind project in southern Italy which is being implemented by renewables developer BayWa r.e. AG.

The San Paolo wind park is located in the region of Apulia and features one Vestas V126 and four Vestas V136 turbines. The park is expected to be connected to the grid soon and produce green electricity for about 18,000 households annually.

The project is the latest initiative in the partnership between BayWa and NordLB. Over the past few years, the pair have partnered on a number of onshore wind projects in Italy including the 50.5-MW Serralonga wind farm in 2021 and three wind farms with a total output of some 66 MW in 2019.

The state-backed lender has provided EUR 10.5 billion in financing for renewable energy projects with wind power accounting for almost 75% of the total. Half of the supported projects are located in Germany.

(EUR 1 = USD 1.099)

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