EIB Nods to Arcadis Ost 1 Loan

Offshore wind developer Parkwind has secured a loan from the European Investment Bank (EIB) for the construction of the 257 MW Arcadis Ost 1 wind farm.

The amount approved is EUR 450 million.

Located some 19 kilometres off the island of Rugen in the German Baltic Sea, Arcadis Ost 1 will comprise 27 MHI Vestas V174-9.5 MW wind turbines and an offshore substation, all installed on monopile foundations.

The wind turbines are scheduled to be installed at the site from June 2022 onward using a new floating turbine installation method, an industry’s first.

The turbines will be installed using a floating installation vessel to assemble the turbine components, which will be located onboard the deck, as well as a dummy tower.

The first step will be lifting the turbine tower onto the pre-installed turbine foundation, after which the nacelle will be lifted onto the dummy tower and the blades will be attached.

Arcadis Ost 1 is slated for commissioning in 2023. The wind farm is Parkwind’s first offshore wind project in Germany.