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Do take some vacation and enjoy the summer. :)

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Just one question.

The remaining EUR 182.5m of the long-term debt is being provided by [commercial banks].

If there are six banks and one of them is the EIB, then the five remaining commercial banks lent on average 36.5 million euros. This seems like a pretty small sum to me (who knows nothing of this particular market). Obviously banks don't want to put all their eggs in the same basket when it comes to lending, diversification is very important, but given the size of the banks involved, it still seems like small sums per bank. Is this level usual, or could a project like this be financed by fewer banks each lending larger sums, in more normal times?

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The same applies to the equity investment, especially if the debt-to-equity ratio is something like 90/10 or 80/20 which is about the range you've mentioned earlier when talking about wind investment. Then the total equity is something like 50-100 million euros, or maybe 8-17 million euros per equity investors. If the investors are privare individuals, it's certainly large chunks of cash, but if they are power companies?

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Obviously I'm not asking questions about this specific project as that might be sensitive in all kinds of ways, but I'm rather inquiring about the wind power market in general.

By the way...

Well done! :D

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Fri Jul 24th, 2009 at 06:54:34 PM EST

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