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EIB provides €156m loan for Nordergrunde offshore wind farm in Germany

CTBR Staff Writer Published 04 June 2015

The European Investment Bank (EIB) is providing €156m in financing for the 111MW Nordergründe offshore wind farm in Germany.

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Renewable energy firm wpd is developing the €410m project, 16km off the coast of East Frisia and 14km east of the island of Wangerooge.

The wind farm will feature 18 Senvion 6.2M126 turbines that will be built in depths of about 10m within the 12 nautical mile zone in the German North Sea.

Each turbine has a rated power of 6.15 megawatts (MW), enabling it to supply about 4,000 households with energy.

Offshore construction work is set to start in March 2016 and the project will be completed and grid-connected by the end of next year.

EIB vice-president responsible for lending operations in Germany Wilhelm Molterer said: "The financing of renewable energy, particularly offshore wind energy projects, is and will continue to be a key part of the EIB's work, as it is all about meeting Europe's ambitious environmental targets.

"Thus, we are glad to support the Nordergründe project, as it will very much contribute to that, as well as improving the security of energy supply in Europe."

Apart from the EIB, KfW IPEX-Bank is also providing loans for the Nordergründe project, which will supply enough energy for over 70,000 households a year.

Image: The Nordergründe offshore wind farm will feature 18 Senvion 6.2M126 turbines. Photo: courtesy of Senvion SE.