ERG Gets ING Bank, Credit Agricole Loan for Italian Wind FarmSally Bakewell
ERG SpA, the Italian oil refiner and electricity company, got a 35 million-euro ($45 million) loan from ING Bank NV and the corporate and investment banking arm of Credit Agricole SA to finance a wind farm in Italy.
The 14-year, project-finance loan is for the 22.5 megawatt Amaroni wind farm, according to a statement today from the company’s clean energy unit ERG Renew. The plant in Catanzaro, southern Italy started generating late last year using turbines made by Nordex SE, the German turbine maker’s website shows.
Cariparma Gruppo Credit Agricole acted as account bank, and Credit Agricole CIB was the agent bank, according to the statement.