Greenfield Fund Takes Stake in German Wind Farm

Press Release
Monday, February 11, 2013

The Marguerite Fund has acquired a 22.5% stake in the German greenfield Butendiek offshore wind farm.

The Butendiek project is a 288 MW greenfield offshore wind farm located in the North-Sea in the German exclusive economic zone, 32 km west of the German Island of Sylt, and consisting of 80 Siemens 3.6 MW wind turbines. The start of the offshore construction works is scheduled for Spring 2014 and installation of the wind turbines is planned to take place between Autumn 2014 and Summer 2015.

When commissioned the wind farm will produce 1,290 GWh p.a., enough to supply the equivalent of some 370,000 households with electricity each year. The cost of the project is estimated to be €1.3bn. Project finance debt facilities in excess of €850m have been provided by a syndicate of nine commercial banks led by KfW IPEX-Bank, UniCredit and Bremer Landesbank with the support of three promotional lenders: EIB, EKF and KfW Förderbank under its €5bn Offshore Wind Energy Programme.

The transaction marks the first investment in the German market for the Marguerite Fund, the equity fund set up in 2010 to invest in greenfield and expansion projects in the energy, renewables and transport sectors within the EU-27.

The Marguerite Fund Marguerite Fund was established under the official name of 2020 European Fund for Energy, Climate Change and Infrastructure with the backing of six of Europe’s leading public financial institutions (Caisse des Dépôts et consignations, Cassa Depositi e Prestiti, European Investment Bank, Instituto de Crédito Oficial, KfW, and PKO Bank Polski) to make capital-intensive infrastructure investments.

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Baltic Mercur II makes maiden voyage to Antwerp

This week Atlantic Ro-Ro Carriers (ARRC) celebrates the maiden voyage of the Baltic Mercur II via the port of Antwerp as part of their regular transatlantic service to the US Gulf.

USCG Provides Safety Tips to Paddlesports Enthusiasts

As the boating season unofficially begins, the 9th Coast Guard District is reminding paddlesport enthusiasts to take precautions to ensure safe trips and increase

USS George Washington Completes Carrier Qualifications

Carrier Air Wing (CVW) 5 and the Nimitz-class aircraft carrier USS George Washington (CVN 73) completed its carrier qualifications (CQ), May 23. CQ allows

Offshore

Mobil Says Oil Discovery off Guyana is 'Significant'

Unlike almost all its neighbors, Guyana isn’t an oil producer yet. But the energy giant Exxon Mobil recently announced it had discovered “significant” oil off the coast.

US Oil Platform on Fire in Gulf Of Mexico

An oil platform caught fire and was evacuated in the U.S. Gulf of Mexico offshore Louisiana in the early hours of Friday, though no injuries were reported, the U.

IMO Adopts Polar Code Environmental Provisions

United Nations' International Maritime Organization (IMO) has adopted the environmental part of the Polar Code. Hereby, internationally binding regulations on

Finance

Vinalines Plans Ports Divestment

The Vietnam National Shipping Lines (Vinalines) and the Ministry of Transport (MOT) hope the plan to reduce the state’s ownership ratio in the big shipping firm

Dubai Establishes Maritime Arbitration Centre

The Dubai Maritime City Authority (DMCA) is in the final stages of completing the rules for the first maritime arbitration centre in the Middles East: the Emirates

Gener8 Maritime to Go Public

Private equity-backed tanker operator Gener8 Maritime filed with the U.S. Securities and Exchange Commission (SEC) to proceed with an initial public offering worth up to $100m.

Wind Power

BMT WBM Scientist Udy wins Kevin Smith Prize

BMT WBM’s Brisbane-based Graduate Scientist, Danielle Udy, was recently awarded the Royal Geographical Society of Queensland 2014 Kevin Smith Prize for her honours research.

Protea to Launch Heavy-Lift Cranes at Nor-Shipping

Protea, a global manufacturer of offshore handling equipment, will launch two types of heavy lift cranes at Nor-Shipping 2015 in Oslo, June 2-5. Tomasz Paszkiewicz,

US Builder Secures Wind Farm Supply Vessel Order

Rhode Island based shipbuilder Blount Boats signed a contract with Rhode Island Fast Ferry for the construction of a crew transfer vessel (CTV) that will operate for Deepwater Wind Block Island,

Offshore Energy

Mobil Says Oil Discovery off Guyana is 'Significant'

Unlike almost all its neighbors, Guyana isn’t an oil producer yet. But the energy giant Exxon Mobil recently announced it had discovered “significant” oil off the coast.

US Oil Platform on Fire in Gulf Of Mexico

An oil platform caught fire and was evacuated in the U.S. Gulf of Mexico offshore Louisiana in the early hours of Friday, though no injuries were reported, the U.

Protea to Launch Heavy-Lift Cranes at Nor-Shipping

Protea, a global manufacturer of offshore handling equipment, will launch two types of heavy lift cranes at Nor-Shipping 2015 in Oslo, June 2-5. Tomasz Paszkiewicz,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1874 sec (5 req/sec)