01/29/2012

UK - Global Tech I offshore wind power project, powered with AREVA M5000 wind turbines

AREVA welcomes the announcement that the Global Tech I (GTI) offshore wind energy project, powered with the group’s wind turbines, has received the “Wind Deal of the Year” distinction

The award was given by internationally-renowned magazine, Project Finance International (PFI), during an official ceremony held on January 25, in London.

Global Tech I, for which the group will supply 80 M5000 wind turbines, is the only offshore wind farm to have raised debt financing in excess of 1 billion Euros. It is the second AREVA-powered offshore wind farm to be awarded such financing. In 2008-2009, Willi Balz, initiator of GTI and CEO of Windreich AG had raised 800-million euro equity.

The transaction, signed with a consortium composed of 16 commercial banks, the European Investment Bank and KfW, covers both construction and operation for the GTI project.

Louis-François Durret, CEO of AREVA’s Renewables Business Group, said: “We are delighted that the Global Tech I project has received the “Wind Deal of the Year” award. It confirms the financial community’s confidence in AREVA’s wind technology and in GTI shareholder’s ability to successfully carry out a complex large-scale project. This recognition will also facilitate financing of new projects that Windreich AG and AREVA may develop together in the future.”

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