Nordex going new ways in wind farm financing -

Hamburg, September 26, 2005. Over the past few years, it has become increasingly difficult to finance German wind farms. This is partially due to the instruments applied. “New methods of fi-nance, such as leasing models, are still not the norm in Germany,” explains Frank Trauboth, chairman of the International Project Re-alization committee at the German Federal Wind Power Associa-tion. One example of the new routes being taken is the Roth wind farm, which Nordex AG constructed in the North Eifel region in Germany with funding supplied by a leasing bank. A leasing com-pany provided the capital for the turn-key completion of the wind farm, which comprises a total of 15 turbines with a nominal output of 22.5 megawatts. The equity component was financed by Bab-cock & Brown, Nordex AG’s final customer. The overall project had a value of around EUR 25 million.

“Following the favorable experience gained with lease financing for smallish projects outside Germany, the Roth wind farm is a model for future project financing in Germany for us,” explains Thomas Richterich, CEO of Nordex AG. The leasing bank also wants to ex-tend this business, particularly in Eastern Europe. However, what is important is that the pilot project proves to be economically vi-able. After all, the Roth wind farm is to achieve an annual yield of 45,600 MWh, equivalent to the energy consumption of 11,400 four-person households. Babcock & Brown has entered into a full-service maintenance contract with Nordex to ensure high machine availability during the 14-year term of the lease and thus optimum yields.

Says Richterich: “Our customer attached importance to receiving a wind farm with well-known and proven technology.” Babcock & Brown had previously acquired from Nordex a wind farm compris-ing 13 S70 and S77 turbines with a nominal output of 1,500 kW each. Talks are already taking place concerning extensions to the Roth wind farm, with Nordex to build a further three turbines in the next phase.


For more information, please contact:
Nordex AG
Ralf Peters
Telephone: +49 (0)40 500 - 100, Telefax: – 333

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