EIB considers debt for Sandbank offshore wind farm
The European Investment Bank (EIB) is considering financing €500 million debt for the offshore wind project Sandbank located approx. 90 km west of the island of Sylt in the German sector of the North Sea.
Vattenfall and Stadtwerke München (Munich City Utilities, SWM) decided, in mid August this year, to jointly invest about 11 billion Swedish kronor (€1.2 billion) in the project.
The offshore wind project Sandbank will include 72 units of 4 MW Siemens SWT-4.0-130 wind turbines (totaling 288 MW) and is expected to annually generate 1.4 TWh of renewable electricity, equivalent to the consumption of about 400,000 households. Vattenfall has a share of 51 percent and will invest about 5.6 billion Swedish kronor in the project. SWM will retain a 49 % stake.
Following the DanTysk offshore wind farm, Sandbank is now the second largest infrastructure project that Vattenfall and SWM are undertaking together.
Vattenfall and Stadtwerke Munich’s first joint wind farm in DanTysk will be operational in 2015.
Each of Sandbank and DanTysk will have an installed capacity of 288 MW. Construction on the wind farm Sandbank is scheduled to start in 2015.
Country news
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October 15, 2014
Norway approves subsea cable interconnectors
Norwegian Ministry of Petroleum and Energy has granted Statnett licences to construct interconnectors to Germany and the UK. Read more -
October 20, 2014
MVV Energie to acquire a 51 % stake in juwi
MVV Energie intends to acquire a 50.1 % stake in Juwi AG, the German renewable energies market leader. The transaction is conditional on successful implementation of financing, as well as on approval by the Federal Cartel Office. Read more -
October 24, 2014
First State's EDIF acquires grid network in Germany from E.ON and VNG
The First State European Diversified Infrastructure Fund (EDIF) managed by First State Investments, the asset management arm of the Commonwealth Bank of Australia, has acquired 100% of Erdgasversorgungsgesellschaft Thüringen-Sachsen mbH (EVG) from E.ON and VNG – Verbundnetz Gas Aktiengesellschaft (VNG) in Germany. Read more -
October 28, 2014
New international consultancy firm for wind offshore projects launched
Four Dutch and German consultancies in the field of offshore renewable energy have teamed up and established a new international consultancy company Wind Minds with the objective to combine all their expertise and experience in developing and building new offshore wind farms in North West Europe, America and Asia. Read more -
November 04, 2014
Deutsche Bank hires Armin Rothauser as Head of Transportation, Infrastructure & Energy Finance
Deutsche Bank announced last week it has hired Armin Rothauser as Managing Director and Head of Transportation, Infrastructure & Energy Finance. Read more
