in News Departments > Projects & Contracts
print the content item

The European Investment Bank (EIB) is providing a EUR 500 million corporate loan to TenneT. The EIB says the funds are being made available in connection with the construction and operation of three offshore high-voltage direct-current (HVDC) lines that will connect wind farms in the North Sea with the German onshore electricity network.

The project planned by TenneT - and now being co-financed by the EIB - comprises the HVDC lines HelWin1, SylWin1 and DolWin1 connecting offshore wind turbines with a capacity of up to 2.2 GW to the grid. Construction has already begun and is expected to be completed in 2014 and 2015.

“The bank sees the expansion of electricity networks as one of its central tasks in the coming years,” explains Wilhelm Molterer, EIB’s vice president responsible for German operations. “They are part of Europe’s strategic infrastructure. A key element is the connection of offshore wind farms. This is also playing a decisive role in Germany’s energy policy turnaround. With today’s loan, the EIB is also supporting TenneT's pioneering efforts to tackle the special challenges of offshore power transmission.”     




Advertisement

Trachte_id2056
Latest Top Stories

Slow Turning: What's Stopping Individual Blade Pitch Control From Wider Acceptance?

Advances have made it feasible for wind turbine blades to adjust individually. However, other factors are preventing the technology's widespread use.


Deepwater Hits Financial Close For Block Island Wind Farm, Expects Summer Construction

The Providence, R.I.-based offshore wind developer becomes the first to financially close on a U.S.-based offshore wind project.


More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.

Hybrid Energy Innovations 2015