Delay to Greentech Sardinia wind project hurts financing

Construction completion and connection to the grid is now scheduled for October 2009, but the delay has also hit Greentech’s project financing.

Greentech says the delay means it “does not expect the project financing to be available before the end of May 2009,” but adds it is continuing to pursue the syndication process.

The company says it is also seeking alternative financing means to continue the construction of the project, and that it is working on several possible solutions.

Greentech