Germany

Germany

Financial close and go-ahead for Merkur

GERMANY: The 396MW Merkur offshore project in Germany's North Sea has reached financial close. The project has secured a grid connection, and construction will start immediately.

GE Haliade turbine being installed in US waters; Merkur will be the first European project to use it
GE Haliade turbine being installed in US waters; Merkur will be the first European project to use it

It will use GE’s 6MW Haliade turbine, and is scheduled to start operating in March 2019. It will be eligible for Germany’s feed-in tariff (FIT) system, which is being phased out in favour of auction tendering.

The development consortium is led by investment managers Partners Group, which holds a 50% stake. GE Energy Financial Services holds 6.25% of the shares.

The developers provided €500 million in equity, while a group of ten international and German banks committed €1.2 billion of senior secured debt.

Located 45 kilometres north of the island of Borkum, Merkur will be the first offshore project in Europe to use the GE Haliade turbine.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Windpower Offshore Events

Latest Offshore Wind Jobs