to-the-point: MPC Capital helps Mongolian wind project reach fin close

German-based investment manager MPC Capital AG (ETR:MPCK) has helped bring the 55-MW Sainshand onshore wind farm in Mongolia to financial close.

Construction will begin shortly, MPC Capital said on Friday.

A USD-120-million (EUR 101m) project financing package for the scheme in the Gobi desert was already announced in late August. The lenders include the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD). MPC Capital's role in putting together financing for the project included negotiating and closing of equity financing, legal advisory to the project partners, setting up financing structures and project financial controlling.

Sainshand is a project of French energy group Engie (EPA:ENGI), German project developer Ferrostaal, the Danish Climate Investment Fund (DCIF) and Mongolian entrepreneur Radnaabazar Davaanyam.

(USD 1 = EUR 0.840)

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