In normal times, for bigger deals, what would happen is that a small number of banks would underwrite the transaction (ie take a bigger chunk of risk) and then syndicate it to other banks to reduce their exposure. But the syndications markets have been dead or 2 years now, so you have to either do smaller deals, or find all the banks in the club from the start (which means involving more banks in the negotiations, which is not simple). In our case, the EIB's participation allowed to avoid the problem.

Debt:equity is more like 70:30. I can't really comment on the investors here, but offshore is now a big utility play, and not only do they usually have 50-100% of projects, but they don't even use project debt, funding it all on their balance sheets (which means multi-hundred million euro investments on their side).

In the long run, we're all dead. John Maynard Keynes