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Wind power deal earns award for project financing

The 200 megawatt wind farm is being built outside Gävle in eastern Sweden and should be finished next year. SEB’s Project, Asset and Export Finance (PAEF) team, joined forces with Norwegian bank DNB to arrange financing for the 300 million euro project. AEB is also providing interest rate hedging.

SEB’s Per Syrjämäki and Niklas Nordenswan say receiving the award is confirmation that SEB has a sound structure for handling complex deals of this kind.

The Swedish market is particularly volatile when it comes to renewable energy as prices are not fixed for the same length seen in many other European countries, making it harder to predict income and therefore plan for price fluctuations.

The wind farm is being developed by UK-based renewables fund Platina Partners and Swedish company Arise Windpower.

Project Finance Magazine handed out its awards at a ceremony in London on Thursday night (9 February).