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VSB, a worldwide wind and photo voltaic mission developer, has efficiently secured €211 million in financing for the Elster wind farm repowering mission in Saxony-Anhalt, Germany. LBBW and DZ BANK collectively financed this important mission, marking VSB’s largest financing deal since its inception in 1996.
The financing, concluded in August 2023, is devoted to the Elster Repowering mission, set to be operational by H1 2025. The repowering initiative goals to switch 50 outdated wind generators with 16 trendy, extra environment friendly ones, using lower than two-thirds of the unique space whereas rising vitality yield sixfold.
The wind farm’s capability will attain 105.6 MW, producing roughly 235 GWh yearly, sufficient to energy 67,000 three-person households with renewable vitality. The mortgage, totaling €211 million, contains €175 million with a long-term maturity exceeding 20 years.
Lucas Förschner, Head of Finance at VSB mentioned, “We’re proud to have present in LBBW and DZ BANK two reliable and extremely skilled companions to assist us finance this main mission. We look ahead to implementing the mission collectively.”
Jens Heil, Head of Sustainable Power Finance at LBBW added, “The size of this mission and the imaginative and prescient demonstrated by VSB are in step with our ideas of selling sustainable options for the longer term and implementing them along with our prospects. It is vital for us to be part of this journey of transformation.”
“Supporting VSB by all the financing course of along with LBBW underlines our shared understanding of the best steps in direction of a sustainable future. We’re happy to have the ability to make an vital contribution to the vitality transition by financing this mission,” famous Markus Höppner, Director of Structured Finance at DZ Financial institution.
