Germany: Merkur offshore wind project secures EUR 1.6bn from investors and banks

16/08/2016 10:11 Renewable


A consortium led by DEME Concessions Wind, which includes five sponsors has provided nearly EUR 500 million in equity to develop the 396-MW Merkur offshore wind project in the German North Sea.

The group comprises Swiss investment manager Partners Group Holding with a 50% stake held on behalf of its clients, InfraRed Capital Partners with 25%, DEME Concessions Wind with 12.5%, GE Energy Financial Services with 6.25% and French state-run agency ADEME with 6.25%. At the same time, a group of 10 international banks have committed about EUR 1.2 billion of senior secured debt. The group includes KfW Mittelstandsbank, ABN Amro, Commerzbank, Deutsche Bank, KfW IPEX, Natixis, Rabobank, SEB, SMBC and Societe Generale. The Merkur Offshore wind farm will be one of Germany’s largest wind farms. The wind project is scheduled to be built approximately 45km north of the islands of Borkum, Germany, and is estimated to cost EUR 1.6bn. It will feature 66 GE Haliade 150-6MW wind turbine generators. It is expected to generate approximately 1,750GWh annually, able to power around 500,000 homes. GeoSea, a member of the DEME Group, will undertake the construction of the wind project. Work will start immediately, with offshore foundations installation scheduled to begin in August 2017. The plant is expected to become operation in March 2019 and to benefit from the Germany’s offshore feed-in-tariff.

Daily (04.12.2019): Carbon price plummets to a two-week low on Tuesday amid a weak energy complex

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Crude oil prices ended on a mixed note on Tuesday, with Brent hitting its lowest level since Oct.21, while WTI prices increased for a second consecutive session. Brent decreased by 10 cents, or 0.2% to end at $60.82 a barrel, following comments from the U.S. President Trump that a trade deal with China might be delayed, feeding uncertainty over demand. WTI rose by 14 cents, or 0.3%, to close at $56.10 a barrel, extending the 1.4% gain registered on Monday.


Albania, Kosovo agree to set up common energy market

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Kosovo’s power transmission system operator KOSTT said it has signed an agreement with its Albanian peer OST to set up a common energy market of the two neighboring countries.


Edison to build 760MW gas-fired thermoelectric power plant in Italy

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Italy’s Edison is planning to build 760MW natural gas-powered thermoelectric power plant in Presenzano in the province of Caserta, with an investment of €370m ($408m).