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Gemini amends its debt

By: James Bernthal-Hooker 11/11/2022 Gemini Wind Park

General Windfarms

Gemini, a 600 MW wind farm operating in the Dutch North Sea, has amended senior and subordinated debt.

“The amendment of this EUR 1.6 bn project financed debt, with this large group of global financial institutions, is an important step in the continuous strengthening of the business case for Gemini and its Sponsors”, remarked Stephan Berendes, CFO of Gemini. “We are proud of this achievement and grateful for the continuous efforts of our lenders, sponsors and advisors to support the energy transition.”

Gemini has been operational since May 207. It is located 85 km from shore, and is owned by Northland Power, Siemens Financial Services, HVC, and Alte Leipziger/Hallesche Group.

The sole financial advisor for the project was Green Giraffe, and Clifford Chance acted as legal advisor, alongside Chatham Financial as hedge advisor, DWPF as model auditor, and Loyens & Loeff as tax advisor.

Finance parties were advised by lender’s legal advisor, Allen & Overy, while Baringa acted as market advisor and Gallagher European Risk Services acted as lender’s insurance advisor. The documentation bank was ABN AMRO, hedge coordinator was Rabobank, and SMBC acted as facility agent.

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Gemini amends its debt

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