This has lead to many of the leading international
players entering the Irish market including turbine
suppliers, specialised engineering companies and
technical advisors. In addition to providing such
companies with clearing, cash management and
working capital facilities, AIB has provided Project
Finance for a number of Irish renewable energy
projects.
REFIT (Renewable Energy Feed-in-Tariff) backed
projects remain an attractive credit proposition
for banks. AIB is committed to delivering tailored
funding solutions to enable continued development
in renewable energy and broader infrastructure
projects.
With regard to tailoring your solutions to the
particular needs of companies; what do you
require from a company that is making an
investment in a wind energy project or a wave
energy project, in order to provide them with the
finance that they need?
A:
Every project will be reviewed on its own
merits but at a minimum the company should engage
with a professional team to ensure that (1) planning,
(2) applications for REFIT (where applicable),
(3) professional confirmations on the suitability
of the site for an energy project, (4) offtake/PPA
agreements, and (5) independent confirmation of
cashflows have been undertaken.
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