Nordergründe Attracts Fresh Cash

Gothaer Leben Renewables GmbH has acquired an equity stake in the 110 MW Nordergründe offshore wind farm, wpd AG, the developer and the future operator of the wind farm said in a statement.

Gothaer reportedly invested EUR 60 million in the project.

 “We are very pleased that we have been able to win Gothaer as a renowned and experienced equity investor for Nordergründe”, said Helge Rau, Head of M&A at wpd AG. 

Besides Gothaer, wpd plans to attract further investors for the project.

The Bremen-based wind power developer had already arranged debt funding for the EUR 410 million project with European Investment Bank (EIB) and KfW IPEX Bank back in June 2015.

Groundbreaking for the Nordergründe is set for spring 2016, with the commissioning being scheduled for the end of this year.

A total of 18 Senvion turbines type 6.2M126 will be erected in the estuary of the river Weser. The wind farm will be connected to the grid via a single line connection by North Sea grid operator TenneT.

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