JBIC, Mizuho Among Lenders for U.K. Offshore Wind Power Project

Aug 11, 2014 6:18 am ET

Aug. 11 (Bloomberg) --Japan Bank for International Cooperation and Mizuho Bank are among the lenders that will provide about 370 million pounds ($621 million) in funds for a U.K. offshore wind power project.

The financing documents were signed Aug. 8 between the lenders and WMR JV Investco Ltd., according to a statement today from Marubeni Corp. Tokyo-based Marubeni and the U.K. Green Investment Bank jointly own Investco.

The loans are for the 210-megawatt Westermost Rough wind project off the Yorkshire coast. In April, Marubeni and GIB acquired a 50 percent stake in the project from a unit of Dong Energy A/S of Denmark, according to the statement.

The wind farm is under construction and due to start operations in 2015, Marubeni said. Other lenders include the Bank of Tokyo-Mitsubishi UFJ, Siemens Financial Services and Societe Generale Corporate & Investment Banking, according to the statement.