Germany: Launch of Nordergründe offshore wind project

While debt funding for the € 410 million project had already been arranged in June 2015 by European Investment Bank (EIB) and KfW IPEX Bank, a new co-investor, Gothaer Leben Renewables GmbH, has recently acquired an equity stake in the project.

“We are very pleased that we have been able to win Gothaer as a renowned and experienced equity investor for Nordergründe”, says Helge Rau, Head of M&A at wpd AG. Besides Gothaer, wpd plans to attract further investors for the project.

wpd is responsible for the construction as well as the operation of the Nordergründe project. A total of 18 Senvion turbines type 6.2M126 will be erected in the estuary of the river Weser. The total capacity of the project is 110.7 MW. Nordergründe will be connected to the grid via a single line connection by North Sea grid operator Tennet. Following the successful implementation and operation of the 288 MW offshore wind farm Butendiek in September 2015, Nordergründe is the second offshore wind project that wpd is realizing in the German North Sea.