ANZ Investment Bank has established a three-strong team in London focused on green-energy financing in Europe and North America. Geoff Knox, head of power, mining and infrastructure finance in London, says ANZ is building the practice to finance the rapid growth of the renewable power sector, especially wind power. He calculates that the industry will need at least $1 billion of financing every year to fund the development of new projects. Given the lack of activity elsewhere in the European power project finance sector, this is the place to be, he notes. Knox believes that ANZ is the first top-tier project finance bank in Europe to set up a dedicated green energy debt financing unit.
April 28, 2002