wpd secures finance for 111 MW Nordergründe wind project off the coast of Germany

wpd AG and its financing banks have signed financing contracts in Frankfurt for the Nordergründe offshore project. According to these contracts, the loans will be provided by KfW IPEX-Bank and the European Investment Bank (EIB) while 100% of the equity will come from wpd offshore GmbH. This means that the finance for the entire investment of around EUR410 million (US$462.8 million) for the 111 MW project off the coast of Lower Saxony is secure.

Implementation of the project is already in full swing and will now enter a new phase with the start of production for the major components. As well as Senvion (turbines), the companies involved are Ambau (foundations), BVT (transformer substation), NSW (internal cabling) and Bilfinger (installation).

Construction of the offshore wind farm began on May 2016 and the first Senvion 6.2M126 turbine was installed in August 2016. The transformer platform weighing roughly 2,000t was installed on 22 September 2017. Expected to come online in 2017, the wind farm is anticipated to supply electricity for more than 70,000 households.

The project comprising 18 turbines of type Senvion 6.2M126 will be constructed in depths of up to 10 meters within the 12 nautical mile zone in the German North Sea, and it will be situated approximately 15 kilometers northeast of the island of Wangerooge.

The owners of the Nordergründe windfarm include John Laing Group (30%), wpd (30%), and Gothaer Leben Renewables (40%).