ABB_id2059
in News Departments > Projects & Contracts
print the content item

Siemens has signed a deal with wpd group to supply and install 80 wind turbines for the 288 MW Butendiek offshore wind farm, which will be built in the North Sea.

The wind turbines, which have a capacity of 3.6 MW and a rotor diameter of 120 meters, will be installed in a 42 square-kilometer area located about 32 kilometers west of the island of Sylt, near the German-Danish border.

The agreement also covers a long-term maintenance contract for a period of 10 years. Siemens will also provide a new logistics concept that includes a service operation vessel specially developed for deployments to offshore wind facilities. The total contract is worth more than 700 million euros.

This project company is made up of five investors. Siemens Financial Services, Marguerite Fund, Industriens Pension and PKA A/S - each of which will indirectly hold 22.5% - will provide, as financial investors, a substantial portion of the required equity and have secured the financing of the project with a total project volume of 1.3 billion euros.

wpd group, which will hold a 10% stake in the project, will also contribute to the equity but will focus mainly on project development and project management. All of the partners have aligned their resources in order to secure a project finance structure on a 67% senior debt and 33% equity basis with a consortium of up to nine banks, Siemens notes.


Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

High Net-Worth Investors Claim 'All Of The Above' On Energy, Renewable And Otherwise

According to a recent Morgan Stanley poll, high-dollar investors favor investment in renewable energy technologies, such as wind and solar.


U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.


Report: Policy Uncertainty Fuels Market Exodus As Firms Bolt North American Wind Industry

The global wind energy supply chain has yet to recover from the slump that began in 2013. In fact, many segments are undergoing a transformation, according to market research firm FTI Consulting.

Hybrid Energy Innovations 2015