Ancala Partners successfully refinanced the 82 MW Orites Wind Farm in Cyprus, improving financial conditions for this established renewable energy asset.

Information on the Target

The Orites Wind Farm, located in Cyprus, is the largest wind farm on the island with an output of 82 MW. This facility comprises 41 Vestas wind turbines and has been operational for nearly a decade. In March 2020, the wind farm was acquired by Ancala Partners, an established London-based infrastructure fund manager, which has experience overseeing renewable energy projects.

Despite facing challenges due to the COVID-19 pandemic, the refinancing process was initiated in May 2020 and concluded successfully on December 18, 2020. This refinancing marks a significant achievement in providing favorable financial terms for the stakeholders involved, reflecting the solid operational history of the project.

Industry Overview in Cyprus

Cyprus's renewable energy sector is rapidly evolving as the country commits to enhancing its energy independence and transitioning towards sustainable energy sources. The government has set ambitious targets to increas