Finance

On October 25, 2006 the financial close of the project was reached. On that date Princess Amalia Wind Farm became the first offshore windpark ever to be fully non-recourse project financed. This means that the leading banks involved – Dexia, Rabobank and BNP Paribas – rely solely on the project to generate the revenues needed to service the interest costs and principal repayment of the financing with very limited additional sponsoring support. This is an important milestone in the development of offshore wind worldwide.