Financial close for WKN’s 6 MW Apensen II onshore wind farm

Watson Farley & Williams (WFW) as announced it has advised WKN AG, a subsidiary of PNE WIND AG, on the financing of the “Apensen II” onshore wind farm in Buxtehude, Lower Saxony, Germany.

The wind farm consists of two wind Nordex N117 turbines with a capacity of 3 MW. As an expansion of the existing 21-turbine wind farm Apensen, which was also developed by WKN, Apensen II is intended to start operations by the middle of next year.

The financing was effected by Commerzbank Aktien-gesellschaft, Hamburg. All loans were disbursed in July 2015 and the wind farm will be operational in 2016.

After commissioning, the Apensen II project will be transferred to PNE WIND YieldCo Deutschland of WKN's main shareholder PNE WIND.

The sponsor had got approval for its wind expansion project in June 2015.

The lead partner Dr. Stefan Kilgus comments:

“We are delighted that Watson Farley & Williams has advised WKN AG for the first time. With this interesting project financing, we have again strengthened our business relationship with our client PNE WIND.”