Commissioning of the 138MW Budduso-Ala dei Sardi wind farm, located on the Italian island of Sardinia, is to go ahead after a deal between developer Falck Renewables and renewable-energy underwriter GCube.
Falck has already secured €230 million in project finance for the 69-turbine project, which will be the biggest in Italy. Under the underwriting agreement, GCube is ensuring construction and providing cover for future operation.
“Italy, like many of its southern European neighbours, has suffered in the wake of the financial crisis,” said Fraser McLachlan, CEO of GCube. “However, by working closely with broker Nsure and Falck, we’ve been able to provide a secure backdrop for future energy finance.”
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