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Financing for Renewable Energy Projects
05th March 2009 | Obelisk Private Finance
Financing for Renewable Energy Projects
In a world preoccupied with global warming, renewable or ‘green’ energy is increasingly being seen as one of the ways forward to reduce the effect of climate change. Once confined to small, one-off projects with little impact on energy supplies, renewable energy ventures are fast becoming the focus of government policy worldwide.
In the last few years, renewable energy projects have grown into large-scale enterprises – Portugal is now home to the world’s largest onshore windfarm and the biggest photovoltaic solar plant and Spain and parts of the US, particularly California, are harnessing their vast resources of solar energy to several huge solar installations. Numerous governments offer tax breaks or concessions to energy-saving enterprises and individuals as well as providing attractive incentives to companies who establish renewable energy projects.
However, although there are more and more companies worldwide who are interested in setting up projects involving using solar, wind or wave sources to create renewable energy, obtaining finance for such operations is increasingly difficult. Until recently, most financing came from banks, particularly investment banks, but the credit crunch and demise of many banks has led to a significant reduction in available finances with some banks not lending at all.
Against this background, Obelisk Private Finance is pleased to announce the availability of commercial financing for renewable energy projects. “At Obelisk Private Finance, we are well aware of how difficult it is to find financing for renewable energy projects at the moment,” says the Director of Obelisk Private Finance, “so we have sourced highly favourable financing for these projects.”
This financing has been sourced through a US-based revenue stream, which is currently actively looking for commercial projects to finance. The stream is particularly interested in renewable energy projects, which are given priority when it comes to approving financing.
Obelisk Private Finance’s new commercial financing product has excellent terms. Minimum loan amounts are €1 million for projects in Europe and US$5 million for projects elsewhere in the world. Interest rates are based on the US LIBOR with the actual rate depending on the amount financed. Loans are non-recourse and terms are generally 18 to 36 months with rollover provisions available.
For more information about this unique commercial financing opportunity, contact Obelisk Private Finance on freephone UK 0808 160 0670, Eire 1800 932 514, commercial@obeliskfinance.eu.
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