Deme Concessions to co-develop 400MW MEG 1 offshore wind

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Deme Concessions to co-develop 400MW MEG 1 offshore wind

Deme Concessions and Nordsee Offshore MEG has entered into an agreement to co-develop the 400 MW offshore wind farm MEG 1 in the German North Sea.

Deme will participate in the further development of the wind farm until financial close. Afterwards, Deme will be involved in the construction and maintenance of the wind farm and its long term funding.

MEG I will be one of Germany’s largest offshore wind farms and is located in the German Bight, circa 45 km north of Borkum. This 400MW project will provide renewable energy to over one million people and realizes a reduction of 1.5 million tons of CO2 emissions every year.

We have recently reported that Northland Power Inc. and RWE Innogy GmbH reached financial close for the German 332 MW Nordsee One offshore wind farm project. The total project investment is estimated at €1.2 billion (US$1.27 billion).

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