Eurogrid GmbH, the parent company of 50Hertz Transmission GmbH, has concluded a syndicated contract for an amortisation loan of 600 million euros with a term of ten years with seven banks. The funds for this first “Green Loan” are provided by the banks and refinanced under KfW’s “Climate Protection Programme for Companies”. They will be used to co-finance the offshore grid connection for the Gennaker wind farm project off the coast of Mecklenburg-Western Pomerania.

With a total capacity of 927 MW, Gennaker will be the most powerful offshore wind farm in the German Baltic Sea to date. It is to be built north of the Fischland-Darß-Zingst peninsula in the coastal sea with 103 wind turbines. 50Hertz is responsible for the entire grid connection project under the name OST-6-1. Two offshore substations and three submarine cable systems are to be built to transport electricity to the coast. The project is currently being prepared for the planning approval procedure at the Ministry of Economics, Infrastructure, Tourism and Labour of Mecklenburg-Western Pomerania.

Source: 50-Hertz