Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
The European Investment Bank (EIB) approved and signed a senior debt facility for the Nordergründe offshore wind farm on 2 June 2015. The EIB documentation records a loan amount of approximately EUR 156 million to support construction of the 111 MW nearshore project in German North Sea coastal waters, adjacent to designated nature conservation areas. The total project cost is noted at about EUR 393 million. The financing supports development and construction of the 111 MW wind farm, contributing to EU and German renewable energy and security-of-supply objectives. The loan was provided to the project promoter, an independent renewable energy company developing and operating wind farms across Europe and Asia, as part of the overall non‑recourse project financing package.