Deutsche Bucht refinancing advised by Green Giraffe

In: Windfarms

Green Giraffe has advised
Deutsche Bucht on the refinancing of the 252MW offshore wind project, located in the German North Sea. The transaction closed on 26 March 2021, with the sponsors arranging a €886 million senior debt refinancing package.

Green Giraffe was previously involved in the development, sale and original financing of Deutsche Bucht in 2017, and has been supporting the project during construction.

Deutsche Bucht is 100% owned by Northland Power and produces an annual output to meet the demands 300,000 German households annually while saving nearly 700,000 tons of CO2 emissions per year.  It is located over 100 kilometres from the German mainland, approximately 95 kilometres North-West of the island of Borkum. The array consists of 31 MHI Vestas V164-8.0 MW turbines installed on monopile foundations. The turbines were generating power by the end of September 2019.

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