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09/09/2004 -

Energia Hidroelectrica de Navarra(EHN), Spain

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BNP Paribas closed as a Mandated Lead Arranger the € 460 million EHN project financing.

EHN, a 50% ACCIONA subsidiary (fourth largest Spanish construction company), is the third largest wind energy developer worldwide with investments in Spain, France, Australia, Germany and the US. The financing will serve different purposes including the refinancing of existing debt, the acquisition of a number of windfarms in Spain, and the development of 2,500 Mw of wind capacity worldwide.

Financial Close: 10th June 2004.