Gothaer acquires stake in German offshore wind farm

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Gothaer acquires stake in German offshore wind farm

wpd AG is making final preparations for starting the construction of new offshore wind project Nordergründe, in Lower Saxony, Germany. Groundbreaking is set for spring 2016 with the commissioning being scheduled for the end of this year. 

The debt funding project for the amount of €410 million had already been arranged in June 2015 by European Investment Bank (EIB) and KfW IPEX Bank. Now a new co-investor, Gothaer Leben Renewables GmbH, has recently acquired an equity stake in the project. Besides Gothaer, wpd plans to attract further investors for the project.

Helge Rau, Head of M&A at wpd AG, said:

“We are very pleased that we have been able to win Gothaer as a renowned and experienced equity investor for Nordergründe”. 

wpd is responsible for the construction as well as the operation of the Nordergründe project. A total of 18 Senvion turbines type 6.2M 126 will be erected in the estuary of the river Weser. The total capacity of the project is 110.7 MW. Nordergründe will be connected to the grid via a single line connection by North Sea grid operator Tennet.

Following the successful implementation and operation of the 288 MW offshore wind farm Butendiek in September 2015, Nordergründe is the second offshore wind project that wpd is realizing in the German North Sea.

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