Clifford Chance has advised Italian company Enel Green Power SpA and its South African subsidiary on the financing of the Gibson Bay wind farm in South Africa by KfW IPEX-Bank in a total volume of 2.1 billion South African Rand (around EUR 160 million).

A part of the financing is secured by an export credit guarantee (Hermes guarantee) by the Federal Republic of Germany.

The Gibson Bay wind farm will consist of 37 turbines with a total capacity of 111 MW. It will generate about 420 GWh of power per year and will be constructed primarily by the German company Nordex SE in the Eastern Cape Province of South Africa.

Enel Green Power, headquartered in Rome, is a major global operator in the field of energy generation from renewable sources with 740 plants in 15 countries across Europe, North and South America and Africa.

The Clifford Chance team was led by partner Dr. Florian Mahler and comprised of associate Kevin Wilcock (both Banking & Capital Markets, Düsseldorf) as well as partner Giuseppe de Palma and associate Fabrizio Nebuloni (both Banking & Capital Markets, Milan).