As Joint Mandated Lead Arranger, Bank of Ireland worked alongside 23 other banks and the Danish Export Credit Agency (EIFO) to design and structure the project financing, while also providing part of the overall funding.
Bank of Ireland is contributing £80 million (€93.5 million) as part of a consortium of international lenders supporting the East Anglia 3 offshore wind project.
The East Anglia 3 offshore wind is located around 70 miles off the east coast of England in the North Sea and will have a capacity of 1.4 GW. The project will feature 95 offshore wind turbines and a single offshore converter station. Electricity will be transmitted to the UK mainland via subsea cables. Offshore construction began in April with the installation of the first foundation.
This is one of Bank of Ireland’s largest green investments to date, alongside its £98 million commitment to the 1.1 GW Inch Cape project being developed off the east coast of Scotland by Red Rock Renewables and ESB.
