Q3 Sustainability Award for Scottish wind farm

Winner of the Q3 Sustainability Award is the transaction to support the Scottish wind farm business, Ardoch Over Enoch (AEO).

Thanks in part to its knowledge of the sector and the country, the team was able to support the customer in circumventing the various challenges that arose while the transaction was being structured and so to successfully close the deal.

Electricity for over 7,000 UK households

The deal means that AEO will develop, construct and manage a wind farm with a total capacity of 11.5 MW just to the south-west of the Scottish city of Glasgow. The farm will consist of five Siemens turbines, and on completion (expected in October 2014), it will generate enough electricity to supply approximately 7,200 households in the UK.

Circumvent challenges

The deal credits its success to ING’s existing know-how in the field of financing onshore wind projects in the UK. ING applied its knowledge of the sector and the country to help the customer to circumvent the various challenges it faced while the transaction was being structured.

For more information on the AEO transaction, click on the link below:

http://www.ingforsomethingbetter.com/updates/financing-concluded-for-ings-second-renewable-transaction-in-the-uk

What is the Sustainability Award of the Quarter?

The Sustainability Award of the Quarter was created to encourage sustainable business and to showcase the most outstanding sustainable deal or initiative at ING. The award is an initiative of and is presented by Christopher Steane, head of Lending Services at ING.

Who won the first Award?

The first Sustainability Award was granted to FI Lending-ING Groenbank. The aim of this initiative is to boost ING’s involvement in microfinancing, whilst at the same time to ensure that it is supported by a profitable earnings model.

The Sustainability Award for the second quarter went to the AU Solar I-deal, a new financing construction for solar panels installed on roofs.