Rabbalshede Kraft signs financing agreement with DNB
Rabbalshede Kraft AB (publ) has signed an agreement with DNB for bank financing that will ensure the company’s expansion of the Dingle-Skogen, Hällevadsholm Väster and Ås wind farms in Munkedal Municipality, as well as refinancing of the existing wind farms, Brattön and Kil.
The bank financing through DNB corresponds to a part of an investment that will ensure the expansion of the Dingle-Skogen, Hällevadsholm Väster and Ås wind farms in Munkedal Municipality, as well as refinancing of the existing wind farms, Brattön and Kil. The bank financing may amount to SEK 635 M. The wind farms are expected to produce 136,000 MWh per year, corresponding to household electricity for nearly 23,000 households (an average of 6,000 kWh per year).
The three wind farms, Dingle-Skogen, Hällevadsholm Väster and Ås, comprise a total of 14 turbines and will continue to be managed as a single farm, the Dingle-Skogen Wind Farm. Ground work has commenced in cooperation with NCC, which is responsible for the construction of roads. A total of 14 kilometers of road will be constructed within the wind farms. Fortum is the network owner in the area and has the assignment of laying cables and expansion of switchgear. Negotiations are in progress with a supplier of wind power turbines. The entire farm is expected to be ready for production during the second half of 2013.
“During a period of general financial turbulence, the ability to secure financing for our wind power projects is a sign of strength,” says Thomas Linnard, President of Rabbalshede Kraft.
The estimated annual production during a normal year for the Company’s wind farms will amount to 233,000 MWh when the Dingle-Skogen wind farm is in operation.
For further information, please contact;
Thomas Linnard, Managing Director, Tel. 46 (0) 525-197 11, 46 (0) 706-100 120
thomas.linnard@rabbalshedekraft.se
Kent Söderström, CFO, Tel. +46 (0) 73-330 72 80
kent.soderstrom@rabbalshedekraft.se
Rabbalshede Kraft AB (publ) is a fast-growing player in the wind power sector, with four wind farms in operation, one wind farm under construction and about 350 turbines in the permit, application and development phase. The aim is to place 250 turbines in operation by 2015, corresponding to a production capacity of about 1.5 TWh per year. To secure the long-term need for capital that the planned expansion requires, the Company is preparing to apply for listing on the NASDAQ OMX Stockholm Exchange. Follow the Company’s development at www.rabbalshedekraft.se
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