15 January 2019
- Hein Tonnaer, Liesbeth Buiter, Jasper Dijkshoorn, Lotte De Bruin, Pieter Leefers, Arwin Lok
Clifford Chance advises Eurus and YARD on Windpark Deil as it reaches financial close
Eurus Energy Group (“Eurus”), a leading Japanese renewable energy company, and YARD ENERGY Group (“YARD”), a Dutch-based developer of wind energy projects, jointly announced that they have achieved financial close for the construction of Windpark Deil, a 21-MW wind farm in Gelderland, The Netherlands, comprising 5 WTGs. Clifford Chance was lead counsel and responsible for the due diligence, project documents, shareholder agreements and borrower's counsel for the project finance transaction.
Windpark Deil, located to the east of the A2 highway near the Deil junction in the municipalities Geldermalsen and Neerijnen, will consist of five Vestas V136 wind turbines, which will have a hub height of 140 meters, a rotor diameter of 136 meters and a rated power of 4.2 MW. The power generated at Windpark Deil, which will be sufficient for supplying renewable electricity for approximately 26,000 households, will be sold to Eneco Group, a Dutch sustainable energy company, under a 16-year power purchase agreement.
Windpark Deil is the second project constructed under the collaboration between Eurus and YARD since their previous transaction for Project Spui in June 2018. A consortium of Rabobank and Sumitomo Mitsui Banking Corporation will provide the debt financing for this project.
The Clifford Chance team that advised Eurus and YARD was led by Hein Tonnaer and furthermore consisted of Liesbeth Buiter, Jasper Dijkshoorn, Lotte de Bruin, Pieter Leefers, Bart van Hattum, Joris Dortmans, Arwin Lok, Anna Nagel and Sophie van Marwijk Kooy.