Trianel Borkum II offshore wind farm achieves the financial closure

The Trianel Windpark Borkum II (TWBII) offshore wind farm project in the German North Sea has achieved financial close.

KfW Offshore Wind programme and a group of five commercial banks provided a non-recourse debt financing in an amount of €591 million (US$646 million).

Trianel and 18 German utilities are participating in TWB II with a combined share of 37.99%, with EWE controlling the remaining 37.5% stake in the project. As we reported in February, Switzerland-based companies EWE and Fontavis acquired 25% stake from Trianel.

The project is located 45 km north of the island Borkum in the German North Sea. The first phase of the Trianel Borkum II offshore wind farm comprises 40 pieces of Areva wind turbines. The second phase of the scheme involves the installation of 32 units of 6.3-MW wind turbines provided by Senvion.

The first phase of the project with a capacity of 200 MW became fully operational in mid-July 2015.

Seaway Heavy Lifting was awarded an EPC contract for the wind turbines foundations, comprising monopìles and transaction pieces.Siem Offshore Contractors GmbH (SOC), a wholly subsidiary of Siem Offshore Inc. was awarded the contract for the turnkey supply and installation of the inner array grid cable system.

The estimated investment for the projects reaches €1 billion (US$1.054 billion).

Green Giraffe was the financial advisor to TWBII