- Published: 14 March 2007 14 March 2007
On 10 March the Dutch Q7 wind farm, which is being built in the North Sea, won the 'Deal of the Year Award', an initiative of Euromoney in cooperation with Project Finance Magazine.
Q7 was the 2006 winner in the 'Europe Renewable Offshore Wind' category because of its outstanding and unique financial construction. Q7 is unique because financing is being provided on a non-recourse basis by a group of international banks. This means that the leading banks involved - Dexia, Rabobank and BNP Paribas - rely solely on the project to generate the revenues needed to service the interest costs and principal repayment of the financing with very limited additional sponsoring support.