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Banks wary of Project Lincs
06 September 2010
Read more:
[Lincs]
[offshore wind]
[Boreas]
[Masdar]
[London Array]
[construction risk]
Early indications are that the RFP for the £1 billion financing of the Centrica/Siemens/Dong 270MW offshore Lincs wind project has met with a tepid response from the bank market. However, given bank competition in the European wind sector the deal will almost certainly get done – but the key question is how many of the aggressive terms in the model term sheet will be kept? Banks are asked to submit fully binding credit-approved bids with a £50 million minimum ticket by 17 September, but a number of top tier project banks are refusing to take the 130 page term sheet through credit as it stands, and are either credit-approving a heavily...
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