HSH Nordbank Invests in Belgium Wind Farm

HSH Nordbank AG has announced that it will structure a EUR 97.9 million financing package for the construction and operation of the wind turbines at one of the world’s largest wind farms in the Belgian community of Estinnes. According to Belgian wind farm planner Windvision, the project is scheduled for completion in late 2009.

The wind turbines will be produced by Enercon GmbH. At 6 megawatts each, they boast the world’s highest output capacity. The turbines are particularly large, standing 198 meters tall with a rotor diameter of 126 meters and foundations weighing roughly 3,000 tons. The project has a planned wind yield of 187 gigawatt-hours per year.

“We are very pleased that our first transaction in the Belgian market is a project of such international stature. In view of the high wind potential, we expect to support other interesting energy projects going forward,” said Peter Rieck, Deputy CEO of HSH Nordbank.

Belgium aims to cover 12% of its heat requirements and 9% of its electricity demand with renewable energy in about two years’ time.

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