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...
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