Overview:
- Mekur is an offshore wind farm being developed in the German North Sea, roughly 45 km north of Bokum.
- When complete the wind farm will have a capacity of 396MW and generate close to 1750 GWh annually.
- DEME Concessions Wind, the infrastructure arm of DEME, is developing the project.
- GeoSea, a member of the DEME group, was awarded the project's turnkey contract.
- GE is supplying the 66 wind turbines the project requires.
- The project reached financial close on a total of close to €1.7 billion non-recourse project financing in August 2016, including an equity investment of around €500 million by a consortium of five sponsors.
- The sponsors were Partners Group, InfraRed Capital Partners, DEME Concessions Wind , GE Energy Financial Services, and, L’Agence de l’environnement et de la maîtrise de l’énergie (ADEME); they provided 50%, 25%, 12.5%, 6.25%, and 6.25% of the €500 million respectively.
- A group of 10 banks are providing around €1.2 billion senior secured debt for the project.
- The lenders are KfW Mittelstandsbank, ABN Amro, Commerzbank, Deutsche Bank, KfW IPEX, Natixis, Rabobank, SEB, SMBC, and Société Générale.
- Installation of the project's offshore foundations is expected to begin in August 2017.
- Project completion is scheduled for March 2019.
- Amsterdam Capital Partners and Deutsche Bank were financial advisors to the project company on the financing.
Ben Naylor - Regional Editor