Windreich nears financial close of 400-MW offshore wind project

Nov 20, 2012 - German wind power developer Windreich AG on Monday said it needed to secure only EUR 100 million (USD 128m) more in funding for its 400-MW offshore wind project worth over EUR 1.85 billion.

The company said that Swiss lender UBS and US private equity firm EIG Global Energy had provided EUR 500 million in senior finance debt for the Meg I project, while Deutsche Bank (ETR:DBK) and a syndicate of banks had made available more than EUR 1 billion of debt capital for the wind park.

The Meg I wind power facility, located in the North Sea, will produce enough power to supply one million people and offset 1.5 million tonnes of carbon dioxide a year, its developer calculates.

(EUR 1.0 = USD 1.281)

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