Norddeutsche Landesbank Girozentrale (Nord/LB) and Swedbank have signed an €87 million (US$95.7 million) project loan for the Aidu Wind Park in Estonia.

Nord/LB acted as mandated lead arranger, agent and lender, with Swedbank acting as an additional lender. Watson Farley & Williams (WFW) advised the lenders.

The 67.5-megawatt Estonian wind farm is located in Lüganuse Parish, a municipality of Ida-Viru County in northern Estonia. The project comprises 15 Vestas V150 turbines and is being developed by Dirkshof Estonia, a subsidiary of German developer Dirkshof, in cooperation with Eleon Capital.

Dirkshof Estonia also acted as EPC contractor, and technical and commercial manager of the project.

In cooperation with WFW, Estonian law firm Advokaadibüroo Cobalt acted as the lenders’ local legal counsel, with Sweden’s Setterwalls Advokatbyrå AB advising them on Swedish law.