Luxembourg: EIB Could Give EUR 500 Million Loan for Innogy Nordsee 1

The European Investment Bank (EIB) is considering giving a EUR 500 million loan for RWE’s Innogy Nordsee 1 offshore wind farm, the Bank said yesterday on its official website.

The EIB noted that the loan is currently under appraisal and negotiation, after which it needs to be approved by the Board of Directors.

Regarding procurement, the Bank said the following: “The Bank will require the promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Dir 2004/17/EC/ or 2004/18/EC and Dir. 2007/66/EC), with publication of tender notices in the EU Official Journal, as and where appropriate.”

Innogy Nordsee 1 GmbH, which operates as a subsidiary of RWE AG, has already issued tenders and awarded contracts for some of the works required for the wind farm construction, such as piling work, installation and commissioning of the grid connection system and turbine supplier.

The wind farm, which is situated approximately 40 kilometres north of the island of Juist, will comprise 54 REpower 6M offshore turbines with a total capacity of 332 MW. The total cost of the Innogy Nordsee 1 offshore wind farm is EUR 1.1 billion.

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Offshore WIND Staff, May 31, 2013; Image: RWE