Windreich no longer able to restructure under self-administration - report

Nov 25, 2013 - German wind power developer Windreich has filed for regular insolvency proceedings as it is no longer capable of restructuring under self-administration, German news agency DPA-AFX reported today.

Holger Bluemle has been appointed as preliminary insolvency administrator in the proceedings that will be opened at the end of November.

Windreich filed for insolvency under self-administration in September in order to complete its 400 MW offshore wind project MEG I. The wind farm in the North Sea will consist of 80 turbines with a capacity of 5 MW each.

The development and financing of the project now run independently and will not be affected by the insolvency proceedings, Bluemle said.

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