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Landmark €170 Million Wind Farm in Operation in Cyprus by End of 2010


Cyprus’s first wind farm is expected to be fully operational by the end of next year, helping the island to meet EU renewable energy quotas. The €170m park, launched on Wednesday in Orites, was developed by DK Wind Supply, a subsidiary of Cypriot development company Ellinas Energies, producing 8% of the island’s energy capacity. Financing for the project was secured by private equity fund manager, Platina Partners. The European Investment Bank is covering €65m of the loan while Commerzbank, ING and NordLB will cover a further €65m with a syndicate loan. Platina Partners is investing €40m. “The project has a capacity of 82MW in its first phase, with approved capacity for 140MW when complete. Cyprus has opened a new chapter for renewable energy,” Akis Ellinas, Chairman of DK Wind Supply told Grapevine.


Source : The Grapevine Magazine


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