The GBP1.3 billion long-term financing will fund the capital requirements of the 402MW Dudgeon Offshore Wind Farm, currently under construction 32 kilometres out to sea from the North Norfolk coast of East England.
The Mandated Lead Arrangers comprise The Bank of Tokyo-Mitsubishi, BNP Paribas, Crédit Agricole Corporate & Investment Bank, KfW IPEX-Bank, Mizuho Bank, Abbey National Treasury Services, Siemens Financial Services; Societe Generale Corporate & Investment Banking and Sumitomo Mitsui Banking Corporation. Dudgeon is being developed by Statoil (35%), Masdar (35%), and Statkraft (30%). Statkraft and Statoil are also participating in the financing through sponsor co-lending. Statkraft will finance its 30% share in the project, while Statoil will finance a share of 17.5%.