Swiss buy into 288MW Butendiek

Butendiek will use 80 Siemens turbines

Butendiek will use 80 Siemens turbines

Swiss utility Elektrizitätswerk der Stadt Zürich (EWZ) has acquired a stake in the 288MW Butendiek wind farm off the German North Sea coast, German wind developer Wpd says.

Wpd did not disclose the size of EWZ’s stake in the €1.3bn ($1.77bn) project some 32km west of the island of Sylt is. But EWZ said it is buying 49% of Wpd’s 10% participation in the Butendiek project company.

Butendiek’s project company is financing a third of the project’s overall costs, while a consortium of banks is financing the remainder via senior debt.

“The EWZ participation is a further favourable signal for the offshore wind sector in Germany,” says Wpd chief executive Gernot Blanke.

“We are glad that EWZ shall contribute its know-how Log in to read complete article.

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