The offshore wind project Global Tech I, for which AREVA is supplier of 80 M5000 turbines, has finalized raising debt financing for an amount in excess of 1 B€.
This is the second AREVA-powered offshore wind project to achieve this and a new demonstration of the confidence of the financial community in the reliability of AREVA’s M5000 offshore wind platform.
The transaction was signed on July 7th , 2011 with a consortium of 16 commercial banks, the European Investment Bank and KfW, committing to lend 1,047 million euros under several project finance facilities. Global Tech I is located 90 kilometres from the coast in the German North Sea..
The wind farm will generate 1.4 billion kWh per year, enough to supply 445 000 households with environmentally friendly electricity. Global Tech I will be connected to the national grid in 2012 and fully completed in 2013.
