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Gothaer invests in Wpd's 111-MW Nordergruende offshore wind project

Offshore wind turbines. Featured Image: Eugene Suslo/Shutterstock.com

January 21 (SeeNews) - The renewables arm of the Gothaer Group has recently bought an equity stake in the 110.7-MW Nordergruende offshore wind project in the German North Sea from developer developer Wpd AG, the latter said on Wednesday.

The investment by Gothaer Leben Renewables GmbH comes after in June 2015 Wpd secured debt funding for the EUR-410-million (USD 446.8m) project. The company intends to lure more investors for the development. The debt package was arranged by the European Investment Bank (EIB) and KfW IPEX Bank.

Wpd also noted that it is making final preparations to begin building the plant during the spring of 2016. Its commissioning is expected at the end of the year.

The Nordergruende offshore wind farm will consist of 18 Senvion turbines of the 6.2M126 model, to be installed in the estuary of the river Weser. The plant will be hooked to the grid through a single line connection by Tennet.

This project will be Wpd’s second in the German North Sea following the 288-MW Butendiek offshore wind farm.

(EUR 1.0 = USD 1.090)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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