Natixis Securities Americas LLC Appointed by US Wind Inc. as Sole and Exclusive Financial Advisor of Maryland Offshore Wind Project
Project Appointment Solidifies Commitment to Renewable Energy Financing
NEW YORK, Feb. 7, 2019 /PRNewswire/ -- Natixis Securities Americas LLC ("Natixis") in conjunction with US Wind Inc. ("US Wind"), a leader in renewable energy development and infrastructure projects and subsidiary of Toto Holdings SpA., a privately owned construction and engineering company based in Italy, announced today that US Wind has appointed Natixis as the sole and exclusive financial advisor for its 268.8-Megawatt Maryland offshore wind project. The project involves a total investment of $1.6 billion and is part of the comprehensive Climate Action Plan to develop domestic clean energy resources and cut carbon pollution.
The project is located 17 miles offshore of Ocean City, Maryland and is expected to be operational in 2021. Developed under the May 11, 2018 order number 88192 issued by the Public Service Commission of Maryland, the project will help to meet Maryland's ambitious offshore wind renewable energy goals and will eventually produce enough energy to power 76,000 homes in the state.
With over 40 years' experience in complex infrastructure projects, Toto Holding specializes in construction, motorway concessions, renewable energy, aeronautic leasing, rail transportation and engineering design activities in Italy and internationally. The company engages in constructing complex infrastructures, roads and railways, tunnels bridges, and viaducts for public and private clients.
Emmanuel Gillet-Lagarde, Global Head of Infrastructure Finance, Natixis Corporate & Investment Banking said: "As a pioneer in offshore wind financing, Natixis has acted in a lead capacity in 13 offshore projects representing over 5.6 GW of capacity across Europe. We intend to expand our leadership role in this global sector by working together with Toto Holdings to support the development of offshore wind in the United States by bringing this landmark transaction into what we see as a strong growth market."
Riccardo Toto, US Wind President, said: "In determining the best financial advisory partner for US Wind to help us realize what will become the largest commercial offshore wind energy project in the United States, we believe that Natixis has not only the essential expertise but the strong track that will support our efforts to bring this first phase of our project to fruition and within the timeframe and budget parameters to which we've committed. We have successfully partnered with Natixis in financing the first commercial offshore wind farm in the Mediterranean (Taranto, Italy) and now look forward to relying on their capabilities as we deliver the benefits that our project will achieve for the citizens and economy of Maryland."
About Natixis
Natixis is the international corporate and investment banking, asset management, insurance and financial services arm of Groupe BPCE, the 2nd-largest banking group in France with 31 million clients spread over two retail banking networks, Banque Populaire and Caisse d'Epargne.
With more than 21,000 employees, Natixis has a number of areas of expertise that are organized into four main business lines: Asset & Wealth Management, Corporate & Investment Banking, Insurance and Specialized Financial Services. A global player, Natixis has its own client base of companies, financial institutions and institutional investors as well as the client base of individuals, professionals and small and medium-size businesses of Groupe BPCE's banking networks.
Listed on the Paris stock exchange, it has a solid financial base with a CET1 capital under Basel 3(1) of €12 billion, a Basel 3 CET1 Ratio (1) of 10.9 % and quality long-term ratings (Standard & Poor's: A+ / Moody's: A1 / Fitch Ratings: A+).
(1)Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in.
Figures as at September 30, 2018.
About US Wind LLC
US Wind, based in Baltimore, Maryland, was founded in 2011 and has established a leadership position in offshore wind energy development. US Wind has obtained the federal lease to build a 722 Megawatt (MW) offshore wind farm in three phases, the first of which is underway and is expected to be operational in 2021. The total project will ultimately generate 2.400 Gigawatt Hours (GWh) of energy, which is enough energy to power over 210,000 homes annually in the region. The vast scope of the planned project beyond Ocean City shoreline is unparalleled, requiring private investment of approximately $ 3.5 billion to build and install a total of 86 offshore wind turbines, one of the largest projects in the United States. An independent third-party management consulting firm hired by the Maryland Public Service Commission estimates that US Wind's project will result in nearly $850 million of in-State economic impact, and the creation of over 7,000 full-time equivalent (FTE) jobs.
US Wind is fully owned by Renexia S.p.A., a leader in renewable energy development in Italy and a subsidiary of Toto Holding Group. Toto Holding Group has more than 40 years of experience specializing in large infrastructure construction projects, rail transportation and aviation.
About Toto Holding SpA.
With a history of successfully operating in the infrastructure business for over 50 years, Toto Group is a leading player in the European and international market, providing design and construction services that range from concept design to commissioning of roads, tunneling, bridges, renewable energy facilities, and deep foundation projects. With roughly 1,500 employees and revenues of approximately € 450 million, the Toto Holding is rated in the top 20 Italian construction groups for infrastructure projects.
Press contact: Meredith Zaritheny. 646 818 9251. [email protected]
Gregory Tucker. 410.624.9536. [email protected]
SOURCE Natixis
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