Senior finance debt from UBS and EIG
Global Energy secured – Project financing over EUR 1.85 billion
coming towards closure
After a year of extensive inspection by both parties, a commitment of
up to 500 million euros was granted, which is intended to finance the
equity. Deutsche Bank, together with other banks syndicated a debt
capital of over 1 billion euros. A further 100 million euros are
required for funding the project.
Information on offshore wind farms The independent institute wind:
research has created a top 12 list of the wind farms in the German
North Sea, which have already received a grid connection approval.
Since there are construction delays at the first and third places,
Windreich projects MEG 1, Global Tech I, and Deutsche Bucht are
currently the only timely running offshore wind farms. Windreich AG
will be the first project developer to connect a 400 MW wind farm to
the German grid. With 400 MW, 1 million people will be supplied with
clean, safe, and affordable electricity. In addition, 1.5 million
tonnes of CO2 emissions are reduced. The high consistent wind from
the North See caters for base load capacity. In the low wind year
2011, the test wind farm Alpha Ventus could not produce electricity
for only three days.
Projects with timely grid connection confirmation cause no additional
expenses for private electricity consumers!
About Windreich AG
Founded in 1999 by Dipl.-Wirt.-Ing. (FH) Willi Balz, the Windreich
Group, based in Wolfschlugen and Hamburg, has company holdings in the
area of on and offshore wind energy.
The top ten of the best offshore wind farms in Germany includes three
wind farms of Windreich AG one of them being the award-winning
project “Global Tech I”. The 400 MW wind farm was rated first place
in 2011 and 2012. In addition, Global Tech I received 1.047 bn. euros
of project financing – still the world’s largest funding in the field
of renewable energy.
In order to support the ambitious goal of the German Federal
Government; which is to have installed approximately 10,000 MW
offshore power until 2020, Windreich, with its 3,500 MW; which is
over a third of the overall, will make a contribution after
realization of the present projects. This implies that Windreich is
making a sustained contribution to the energy transition more than
any other company.