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.