Babcock & Brown, an investment and advisory firm, has announced the completion of financing for the construction of two wind farms, Garbis and Zefyros, located in the Arkadia province of the Peloponnesus region in Greece.
Garbis will have a total installed capacity of 18MW, while Zefyros will have an installed capacity of 24MW. Garbis and Zefyros are expected to begin commercial operations in May 2008. The total estimated equipment supply and construction cost is approximately E40 million.
Babcock & Brown (B&B) is the project sponsor and acquired the projects in May 2007 from Penta Holding.
Antonino Lo Bianco, head of B&B’s European infrastructure team, said: The development of these two wind energy projects represents our first investment in the infrastructure sector in Greece and builds on Babcock & Brown’s pipeline of in excess of 3000MW of wind energy under development at the present time.