Name and Location
Butendiek wind farm project, North Sea, Germany.

Client
WPD Group.

Project Description
The Butendiek wind farm will be built 53 km off the coast of Schleswig-Holstein and 32 km to the west of the island of Sylt.

The wind farm will comprise 80 turbines and will have a total generating capacity of 288 MW, making it one of the largest offshore wind projects to be undertaken in the German section of the North Sea.

Value
€1.4-billion.

Duration
Construction is expected to start in the first half of 2014 and be completed by mid-2015.

Latest Developments
The European Investment Bank (EIB) is lending WPD €450-million for the development of the wind farm.

The Danish government export credit agency Eksport Kredit Fonden, KfW IPEX Bank and nine commercial banks will also be involved in the financing.

As the lead manager, KfW IPEX Bank is arranging the finance in conjunction with Bremer Landesbank and Unicredit.

The loans will amount to about €940-million. The remaining funds will come from a consortium of investors consisting of Industriens Pension, Marguerite, PKA, Siemens Project Ventures and WPD.

Key Contracts and Suppliers
EIB, Eksport Kredit Fonden, KfW, Bremer Landesbank and Unicredit (loan finance).

On Budget and on Time?
Not stated.

Contact Details for Project Information
WPD offshore MD Achim Berge, tel +49 421 168 66 10, fax +49 421 168 66 66 or
email projektentwicklung-offshore@wpd.de.
EIB, Eva Henkel, tel +352 437982147 or email e.henkel@eib.org.
Eksport Kredit Fonden, tel +45 35 46 26 00 or email ekf@ekf.dk.
KfW IPEX Bank head of corporate communication and press office Dr Axel Breitbach,
tel +49 69 74 31 29 61, fax +49 69 74 31-85 36 or email Axel.Breitbach@kfw.de.
Bremer Landesbank, tel +49 421 332 0, fax +49 421 332 2322 or email kontakt@bremerlandesbank.de.
Unicredit, tel +39 02 88 621.