France: Funds Available for Offshore Wind Developers, Says Green Giraffe

Offshore wind farm developers will be able to fund their projects despite the reduction in support from banks, Green Giraffe Energy Bankers said to Bloomberg.

The financing will come from utilities and third parties. “Funding, whether debt finance, equity or other hybrid forms, is there for good projects and will continue to be as the industry grows,” said Jerome Guillet, managing director of Green Giraffe Energy Bankers.

In spite of the European debt crisis, the third-party funding has surpassed the industry growth in the past two years.

Green Giraffe Energy Bankers (GGEB) is a specialist advisory boutique focused on the renewable energy sector – and in particular offshore wind – launched in 2010 by experienced finance specialists.

The GGEB team has an unparalleled track record in offshore wind, with its staff having been involved (in previous capacities) in all the early non-recourse offshore wind construction financings and several equity transactions for offshore wind assets. GGEB has already advised developers on 2 successful non-recourse financings since its creation (C-Power and Meerwind).

Currently the company is working on offshore wind projects in six countries. The GGEB has also advised Blackstone Group LP on USD 1.6 billion wind farm in German waters.

[mappress]

Offshore WIND staff, April 26, 2012; Image:  c-power