Nordsee One Refinances Loan Facility

Nordsee One GmbH, the owner and developer of the 332MW Nordsee One offshore wind farm, has closed the restructuring of its term loan facility, ”significantly improving pricing conditions”, according to Green Giraffe.

Nordsee One GmbH, a special purpose company owned by Northland Power Inc. (85%) and innogy SE (15%), completed the loan restructuring simultaneously to achieving project completion on 20 December, Green Giraffe said.

The restructured non-recourse term loan facility totalled EUR 840 million. Green Giraffe acted as exclusive financial advisor.

In 2015, Green Giraffe advised Nordsee One in raising its initial EUR 840 million non-recourse financing plus additional contingent loan amount. Financial close was reached in March 2015.

Nordsee One is located 40 kilometres off the island of Juist in the North Sea in German exclusive economic zone.

The 54th and final Senvion 6.2M126 wind turbine was installed at the site in September 2017.