EIB considers debt for Sandbank offshore wind farm

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EIB considers debt for Sandbank offshore wind farm

The European Investment Bank (EIB) is considering financing €500 million debt for the offshore wind project Sandbank located approx. 90 km west of the island of Sylt in the German sector of the North Sea.

Vattenfall and Stadtwerke München (Munich City Utilities, SWM) decided, in mid August this year, to jointly invest about 11 billion Swedish kronor (€1.2 billion) in the project.

The offshore wind project Sandbank will include 72 units of 4 MW Siemens SWT-4.0-130 wind turbines (totaling 288 MW) and is expected to annually generate 1.4 TWh of renewable electricity, equivalent to the consumption of about 400,000 households. Vattenfall has a share of 51 percent and will invest about 5.6 billion Swedish kronor in the project. SWM will retain a 49 % stake.

Following the DanTysk offshore wind farm, Sandbank is now the second largest infrastructure project that Vattenfall and SWM are undertaking together.

Vattenfall and Stadtwerke Munich’s first joint wind farm in DanTysk will be operational in 2015.

Each of Sandbank and DanTysk will have an installed capacity of 288 MW. Construction on the wind farm Sandbank is scheduled to start in 2015.

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