Green Giraffe advised Blackstone on the EUR 863 M financing, closed on 5 August 2011, of the 288 MW Meerwind offshore wind project in Germany
Green Giraffe was mandated by project developer WindMW, a company controlled by Blackstone, to assist in the negotiation of the financing structure for Meerwind, one of the first large scale offshore wind farms (80 turbines) in Germany
Project highlights
- 288 MW offshore wind farm, completed in early 2014
- EUR 1.2 billion investment
- Approximately 50 km off the German coast in the North Sea
- Produces over 1 TWh of electricity per annum
Financing highlights
- First project to be financed with the participation of the KfW program for offshore wind in Germany
- First non-recourse construction financing for Siemens’ 3.6 MW turbines
- First project developed and financed by a private equity investor in offshore wind
Awards
- 2011 Offshore Wind Deal of the Year (Euromoney)
- Blackstone is PFI 2011 Financial Sponsor of the Year (PFI/ThomsonReuters)
“Green Giraffe consistently distinguished themselves and played a critical role through-out every step of the financing process.”
Sean Klimczak, Managing Director, Blackstone
Click here for the project website