HSH Nordbank finances wind project in Germany
SH Northbank AG has lent €70 million (US$77.55 million) to Prokon eG to fund the construction of the 48 MW Gagel project in Saxony-Anhalt, Germany. The total project investment is estimated at €100 million (US$110.8 million).
The project involves the development of a 16 turbines wind farm. The turbine type selected for the facility is Enercon's E115/3000. The new wind farm is expected to be operational by the end of 2016.
In mid May, we reported that Capital Stage tendered a binding offer for the takeover of 94.9% of PROKON Regenerative Energien GmbH via an indirect wholly owned subsidiary. PROKON operates a portfolio of wind farms with a total capacity of 529 MW and fixed feed-in tariffs. 461 MW, thus by far the biggest portion of these wind farms, is located in Germany.
In addition, PROKON operates a dedicated O&M department for the technical and commercial management of these wind farms. PROKON thus has a positioning in the wind sector which is similar to Capital Stage AG’s positioning in the solar sector.
Country news
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July 27, 2016
CHORUS Clean Energy AG strengthens its asset management business with acquisition of Prime Renewables GmbH
CHORUS Clean Energy AG based in Neubiberg near Munich, a company specializing in the operation of solar and wind parks, has acquired Prime Renewables GmbH (PRG) from Prime Capital AG, based in Frankfurt am Main. Read more -
July 25, 2016
Capital Stage AG acquires German onshore wind park in Lower Saxony with a capacity of 6.4 MW
Capital Stage, the solar and wind park operator based in Hamburg, has acquired an onshore wind park in the German Federal state of Lower Saxony with a generation capacity of some 6.4 MW from Energiekontor AG. Read more -
July 12, 2016
Swedish State confirms Vattenfall’s Lignite Divestment
Vattenfall submitted the proposal to sell Vattenfall’s lignite operations to a Czech consortium formed by EPH, an established European energy group, and its financial partner PPF Investments, which is an international finance and investment group focused on Central and Eastern Europe and Asia, to its owner, the Swedish State. Read more -
June 27, 2016
Allianz Global Investors announce second renewables fund
Allianz Global Investors has announced its second renewable energy fund, Allianz Renewable Energy Fund 2 (AREF2). Read more -
June 27, 2016
DONG Energy to build German offshore wind farm Borkum Riffgrund 2
DONG Energy has decided to build the German offshore wind farm Borkum Riffgrund 2, which is expected to be fully commissioned in the first half of 2019.
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