Siemens Sells 300 of Its 6MW Turbines

Siemens reported today that it had received an order for 56 of its SWT-6.0-154 wind turbines, including a 15-year service contract, for the Galloper offshore wind farm, for which the final investment decision was reached today.

So far, the company has sold about 300 of its SWT-6.0-154 wind turbines to UK and German projects.

Siemens is due to start installing the 56 SWT-6.0-154 wind turbines for the Galloper project in May 2017, and the offshore wind farm is scheduled to be fully operational in March 2018. The company said the prompt completion is necessary so that the offshore project can still qualify for remuneration with ROC (Renewable Obligations Certificates) of the 2.5 round for public tenders.

Siemens Financial Services contributed to securing the Siemens bid by providing 25 percent of the total project equity, as well as supporting RWE with development funding in the period up to financial close.

“The speed in which we achieved financial close, which included securing debt investments from a club of commercial lenders, is testament to the market’s appetite for well-structured offshore wind investments and its confidence in Siemens’ technical and financial expertise in this sector,” commented Kirk Edelman, Head of Energy Finance at Siemens Financial Services.

Image: Siemens

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