Natixis acted as sole green loan coordinator for the £380m financing for Cobra Instalaciones y Servicios S.A. of Kincardine Offshore Windfarm Limited.
The project comprises the construction of a 50MW floating offshore wind farm, located south-east of Aberdeen, Scotland, which will be the largest floating offshore windfarm in the world when completed.
Natixis was also one of the mandated lead arrangers, underwriters and bookrunners for the transaction, which closed on June 12th, 2020.
Kincardine will consist of six turbines (one 2 MW and five 9.5 MW, all supplied by MHI Vestas) installed on semi-submersible floating structures designed by Principle Power located in water depths ranging between 60-80 metres. The project is expected to be fully operational by the fourth quarter of 2020.