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HSH Nordbank Lends to Aquila Capital for EDF French Solar Park

Oct. 24 (Bloomberg) -- HSH Nordbank AG provided 42 million euros ($54 million) in loans to Aquila Capital Concepts GmbH, a German investment company, for a French solar park it bought from EDF Energies Nouvelles SA.

The funds include a 32 million-euro project-finance loan for the 10.8 megawatt Avon-les-Roches facility in Toul, HSH Nordbank said today in an e-mailed statement.

The non-recourse loan has an 18-year maturity, Eleonore Kleuters, a renewable-energy originator at the Hamburg-based bank, said by phone. HSH Nordbank also provided Aquila with an 8.5 million-euro short-term VAT facility and a 1.5 million-euro working capital facility, again short-term, Kleuters said.

Aquila provided the equity for the operational project developed in north eastern France by the clean energy unit of EDF, Europe’s biggest utility, according to Kleuters.

To contact the reporter responsible for this story: Sally Bakewell in London at Sbakewell1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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