BEITEN BURKHARDT Rechtsanwaltsgesellschaft mbH
BEITEN BURKHARDT advises Windreich AG on the project financing of the Global Tech I offshore wind park
BEITEN BURKHARDT Rechtsanwaltsgesellschaft mbH / Key word(s): Finance/
BEITEN BURKHARDT advises Windreich AG Frankfurt am Main, 6 July 2011 – The international business law firm BEITEN BURKHARDT has advised Windreich AG, a company with registered offices in Wolfschlugen near Stuttgart, on the project financing of the Global Tech I offshore wind park that will be built in the North Sea. Financial close took place on 6 July 2011. The Global Tech I offshore wind park will be financed in an amount of more than one billion euros by a banking consortium led by Société Générale, Dexia, NordLB and Kfw-Ipex, with the consortium also including the European Investment Bank (EIB) and the Kreditanstalt für Wiederaufbau (KfW). The shareholders of the project company Global Tech I Offshore Wind GmbH will make available equity funds of about 700 million euros. Besides Windreich AG, who was the sponsor and driving force in the development of Global Tech I until it was ready for financing, including the obtaining of necessary permits and clearances by the German Federal Maritime Agency (Bundesamt für Seeschifffahrt und Hydrographie, BSH) and the grant of its connection to the grid, SWM Stadtwerke Munich, HEAG Südhessische Energie AG, EGL Holding Luxembourg AG, Esportes Offshore Beteiligungs GmbH, FC Windenergy GmbH, GTU I GmbH and Norderland Projekt GmbH hold interests in the project company. The Global Tech I offshore wind park will be built in the priority area defined by the Federal Government within the exclusive economic zone in the German Bight (North Sea), about 93 km north of the island Juist. The 400 MW offshore wind park consists of eighty 5 MW wind turbines of the Areva Multibrid M5000 type that has been designed especially for operation in the North Sea. Windreich AG has developped on- and offshore wind park projects since 1999. The design, development, technical and commercial operation of on- and offshore installations have made Windreich one of the pioneers in the offshore wind industry. As the market leader, Windreich has obtained numerous BSH approvals for the building of offshore wind parks. In addition to Global Tech I, Windreich AG builds further wind parks in the German part of the North Sea, such as the MEG I wind park. Windreich AG was advised in connection with the project financing of the Global Tech I project by a BEITEN BURKHARDT team headed by the Frankfurt Partner Dr. Günther M Bredow. The team led by Mr Bredow advises Windreich AG also on other projects.
Advisor Windreich AG: INHOUSE: Matthias Hassels (CFO), Andreas Link (General Counsel), Dr. Michael Görike
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Public Relations Information on BEITEN BURKHARDT – BEITEN BURKHARDT is an independent international commercial law firm with a focused range of services and some 320 lawyers working in 12 locations. – Through our long-established offices in Germany, Brussels, China and Eastern Europe we advise large and mid-sized companies and corporate groups from various industries, banks and financial institutions as well as the public sector. End of Media Release 06.07.2011 Dissemination of a Press Release, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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