The Netherlands: EIB Considers EUR 500 Million Loan for Offshore Wind Project

An offshore wind project, worth a total of EUR 2.6 billion, could get a EUR 500 million loan from the European Investment Bank (EIB).

The developer, Typhoon Offshore BV, plans to build the 600MW offshore wind farm 85 kilometers north of the Dutch island of Schiermonnikoog. Once built, by the end of 2015 or the beginning of 2016, it will supply electricity to 785,000 households.

Bloomberg says that the company expects financial close next summer, while currently it is in negotiations with export credit agencies and commercial banks about the funding.

[mappress]

Offshore WIND staff, September 27, 2012; Image: DENA