EIB Grants €500M Loan To Offshore German Wind Project

Law360, New York (January 10, 2013, 5:25 PM EST) -- The European Investment Bank has approved a €500 million (US$661 million) loan to a German energy company for an offshore wind farm project in the German Baltic Sea, the European bank said Thursday.

The EIB and project owner EnBW Erneuerbare Energien GmbH, a subsidiary of Karlsruhe-based energy firm EnBW Energie Baden-Wurttemberg AG, signed the financing contract on Thursday, the EIB said. The 288-megawatt wind project will feature 80 turbines and is expected to be completed by 2014.

"Demanding projects are required so that Germany can implement...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.