EANS-News: Windreich AG Secures 500 Million for North Sea Wind Farm MEG I
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------
Company Information/Offshore
Wolfschlugen (euro adhoc) - - Senior finance debt from UBS and EIG Global Energy
secured
- Project financing over EUR 1.85 billion coming towards closure
After a year of extensive inspection by both parties, a commitment of up to 500
million euros was granted, which is intended to finance the equity. Deutsche
Bank, together with other banks syndicated a debt capital of over 1 billion
euros. A further 100 million euros are required for funding the project.
Information on offshore wind farms
The independent institute wind: research has created a top 12 list of the wind
farms in the German North Sea, which have already received a grid connection
approval. Since there are construction delays at the first and third places,
Windreich projects MEG 1, Global Tech I, and Deutsche Bucht are currently the
only timely running offshore wind farms. Windreich AG will be the first project
developer to connect a 400 MW wind farm to the German grid. With 400 MW, 1
million people will be supplied with clean, safe, and affordable electricity. In
addition, 1.5 million tonnes of CO2 emissions are reduced. The high consistent
wind from the North See caters for base load capacity. In the low wind year
2011, the test wind farm Alpha Ventus could not produce electricity for only
three days.
Projects with timely grid connection confirmation cause no additional expenses
for private electricity consumers!
About Windreich AG
Founded in 1999 by Dipl.-Wirt.-Ing. (FH) Willi Balz, the Windreich Group, based
in Wolfschlugen and Hamburg, has company holdings in the area of on and offshore
wind energy.
The top ten of the best offshore wind farms in Germany includes three wind farms
of Windreich AG one of them being the award-winning project "Global Tech I". The
400 MW wind farm was rated first place in 2011 and 2012. In addition, Global
Tech I received 1.047 bn. euros of project financing - still the world's largest
funding in the field of renewable energy.
In order to support the ambitious goal of the German Federal Government; which
is to have installed approximately 10,000 MW offshore power until 2020,
Windreich, with its 3,500 MW; which is over a third of the overall, will make a
contribution after realization of the present projects. This implies that
Windreich is making a sustained contribution to the energy transition more than
any other company.
Contact:
Windreich AG
Corporate Communications
Tel. 0049 7022 953060
Email: pr@windreich.ag
Further inquiry note:
Press
Tel.: +49 (0) 70 22 95 30 60
E-Mail: pr@windreich.ag
end of announcement euro adhoc
--------------------------------------------------------------------------------
company: Windreich AG
Esslinger Straße 1115
D-72649 Wolfschlugen
phone: +49 (0)7022 / 953060
FAX: +49 (0)7022 / 54820
mail: info@windreich.ag
WWW: http://www.windreich.ag
sector: Energy
ISIN: DE000A1CRMQ7, DE000A1H3V38
indexes:
stockmarkets: free trade: Hannover, Berlin, Hamburg, free trade/Bondm: Stuttgart,
Open Market: Frankfurt
language: English