Offshore grabs 30% of Q2 large-scale project financing

$1.4bn in project financing shared between two projects

Just under a third – 30% – of the $5.4bn (€4.3bn) invested globally in large-scale wind energy projects during the second quarter (Q2) of this year was secured to fund two offshore wind farms.

A total of $1.4bn in project financing was secured during the period for the 270MW Lincs project in UK waters and the 216MW Northwind project in Belgian waters.

Together, these two projects accounted for a significant proportion of total funds allocated to the 23 large-scale wind energy finance deals tracked by Mercom Capital Group in its latest quarterly report on wind energy project funding and merger and acquisitions.

Since the end of Q2, a major M&A deal in the offshore sector has been announced, with Dong agreeing to buy the rights to develop three offshore wind projects in German waters from PNE Wind. The deal will see Dong pay PNE up to €157m.

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