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Fortis has Provided GBP31.5 Million for the Financing of the Construction of 30.0 MW Lissett Wind Farm

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Nov 23 2007

Fortis has fully underwritten the GBP31.5 million of limited recourse capex and VAT facilities over a 16.5 year term for the wind farm based at Lissett Airfield in Yorkshire.

Fortis was selected by the wind farm’s owner Novera Energy, a leading independent quoted UK renewable energy group, as preferred lender earlier this year.

The transaction is being led by the Fortis Energy and Utilities team in London. The success of this appointment underlines the leading position of Fortis in financing renewable energy projects world-wide.

Lissett Airfield is a former RAF airfield south of Bridlington. Novera gained planning approval earlier this year and expects construction to start later this year with commercial operation during the fourth quarter of 2008.

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