Clifford Chance

Clifford Chance advises Eneco on EUR 100 million green loan agreement

Clifford Chance advised international renewable energy company Eneco on a ''green'' loan agreement of EUR 100 million with ING Groenbank, ASN Groenprojectenfonds and Triodos Groenfonds in order to finance some 50 renewable energy projects. It concerns the largest loan of its kind ever. Examples of renewable energy projects by Eneco in the Netherlands are a wind farm, a plant for heat/cold storage and a solar system for collective use.

The financial package of Eneco and the three banks is covered by the Regeling Groenprojecten scheme, a public-private arrangement created in 1995 by the Dutch government. The scheme compensates parties that invest in sustainable projects or measures for the lower tax rate of return that these investments usually entail.

Eneco is an international renewable energy company with operations in the Netherlands, Great Britain, Germany, France and Belgium. The headquarters of the Eneco Group is located in Rotterdam, the Netherlands.

The Clifford Chance team that advised Eneco on the finance deal consisted of Hein Tonnaer (counsel) and Nienke van Stekelenburgh (associate).