Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Energie Baden-Württemberg AG (EnBW) has secured EUR500 million (US$546.36 million) in loan financing for the development and construction of the 900 MW He Dreiht offshore wind farm in the North Sea, Germany.
LBBW, KfW IPEX-Bank, and Commerzbank are co-funding the wind project with a syndicated loan that is being guaranteed by the Danish export credit agency EIFO. The wind farm will consist of 64 wind turbines and is expected to be connected to the grid in 2025 around 90 kilometers northwest of the North Sea island of Borkum.
The EUR2.4 billion (US$2.62 billion) wind project is expected to generate enough power for the consumption of about 1.1 million households annually.
