The bank for a changing world

On October 27th, BNPP ECEP Project Finance team attended the inauguration of the Ally wind farm, which is part of the largest windfarm portfolio financing in France.

The Canadian group Boralex inaugurated the Ally wind farm, in the department of Haute-Loire, which is included in the largest windfarm portfolio financing in France to date with a total installed capacity of 57 MW.

Representatives of the Project Finance team were there to admire the impressive new wind turbines as BNP Paribas acted as sole MLA, Underwriter, Agent, Hedging and Account Bank for this EUR 86 million portfolio financing closed in April 2005. The swift development of the wind farm was facilitated by the local players' support and by the good perception of the project by the local population.

This transaction is one of the key project financings reflecting BNP Paribas' positioning as a leading player in the recent and expanding wind sector in France: 3 wind farms portfolios have been structured to date totalling 253 MW, all during 2005 – Boralex Massif Central (above-mentioned, 57 MW), Boralex Energie Eolienne (up to 160MW) and Louville (36 MW, closed in October) – while total installed wind power capacity in France is currently about 500 MW only.


The Project Finance team with the Ally wind farm

Project Finance's growth is also fueled by our strong historic involvement in the European wind market (first project in Greece back in 1999, others in Spain, Italy and in the UK) and this growth is also evidenced in other parts of the world with several significant wind farm financings in the US, in Australia as well as in Korea.