EANS-News: Windreich AG Secures 500 Million for North Sea Wind Farm MEG I
19.11.2012 – 19:22
-------------------------------------------------------------------------------- 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