Two Wind Farms in Germany Get Funding

[] GE Energy Financial Services has completed project debt financing for two wind power farms it owns in Saxony-Anhalt, Germany. Norddeutsche Landesbank in Hanover arranged the approximately EUR 60 million [~USD$73 million] in total debt for the 12-megawatt Krusemark wind farm in Sachsen-Anhalt and the 55-megawatt Alsleben farm under construction between Magdeburg and Halle. Norddeutsche Landesbank is the sole lender to the projects. The Alsleben project will consist of 37 of GE’s 1.5-megawatt turbines; 24 of the turbines were commissioned last year. Krusemark, with eight GE 1.5-megawatt turbines, was built last year to sell power to the regional grid. GE Energy Financial Services acquired seven wind farms in Germany last year, with a combined capacity of 166 megawatts.
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