Germany: Windreich Drives MEG I Development Regardless of Insolvency Proceedings

Windreich GmbH continues driving the development of the offshore wind farm MEG I and targets the financial close within this year. Negotiations on the new management with suppliers, potential investors and the advisory banks were positive.

“We are pleased by the constructive feed-back which we got from our most important partners in developing our second 400 MW offshore wind farm,“ said Werner Heer, CEO of Windreich GmbH. “Talks so far clearly show that all parties are willing to pull in the same direction going forward. This encourages us to do our utmost to bring this project to a successful close.“

Offshore wind is the pivot of the German energy transition. Windreich’s wind farm MEG I is located in the German North Sea and comprises 80 wind energy converters of the 5 MW class. It is directly adjacent northwest to the wind farm Alpha Ventus which has been in operation for three years now. The permit for construction of MEG I was granted in 2009 and for the grid connection in May 2011.

The HVDC converter station „DolWin alpha“ was successfully installed at the end of August 2013 by TenneT TSO GmbH. This guarantees grid connection on time. The wind farm will be built turn-key by a consortium comprising Areva Wind and HOCHTIEF within the framework of an EPC contract.

Windreich GmbH has filed for insolvency on September 5, 2013 with the local court in Esslingen. Interim administrator is Holger Blümle form law firm Schultze & Braun.

[mappress]

Press release, September 20, 2013; Image: Windreich