CMS Hasche Sigle advises project company on financing offshore wind farm Global Tech I

Hamburg – Arrangements for financing the North Sea wind farm Global Tech I, which will comprise 80 wind power plants, are now close to completion. The European Investment Bank and a consortium of 16 commercial banks signed financing agreements worth more than a billion euros to provide the required debt capital yesterday in Hamburg.
A team led by partner Dr Marc Riede advised the project company on all aspects of the loan. This is one of the first project finance arrangements for an offshore wind farm in Germany.
Global Tech I is among the first offshore wind farms to be constructed in the German section of the North Sea. Comprising 80 wind power plants in the 5-MW class, it has a total installed capacity of 400 MW. When fully operational, the Global Tech I wind farm will produce electricity for the equivalent of 445,000 households.
A team led by renewable energy expert Dr Holger Kraft and new partner Dorothée Janzen previously advised the project company jointly with a team from Gleiss Lutz on all aspects of concluding the project agreements for realising the wind farm.

Advisers CMS Hasche Sigle:

Dr Marc Riede, Banking & Finance (Lead Partner, Finance)
Jan Peter Weiland, Banking & Finance
Dr Michael Klose, Banking & Finance
Dr Holger Kraft, Energy/Project Contracts
Dorothée Janzen, Energy/Project Contracts
Dr Niklas Ganssauge, Energy/Project Contracts

Inhouse team at Global Tech I:

Dr Silvia Pestke (LLM)
Dr Jean-Marius Rothberg