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Market insight: German offshore wind
08 September 2011
On 30 June 2011 the German Parliament passed a law amending the Renewable Energy Act. The amendments pave the way for Germany’s complete departure from nuclear energy and place renewable energy at the centre of future generating capacity. With higher tariffs, a bespoke KfW lending program for offshore wind and two offshore wind project financings already closed this year – Global Tech 1 and Meerwind – Paul Smith discusses prospects for the German offshore wind sector with some of the key industry figures driving the market.
Participants:
PS: Paul Smith, News Editor, Project Finance Magazine
SL: Simon Luby, Due Diligence Team Leader, Sgurr Energy
MBen: Martin Benatar, Partner, JLT Specialty
CJ: Charles July, Partner, Watson, Farley & Williams
KJ: Karl John, Business Development Director, Areva Renewables
TMee: Dr Thomas Meerpohl, Managing Director, Global Tech1 Offshore Wind/ Stadtwerke Munchen
MBec: Dr Marcus M. Bechtel, Partner, Watson, Farley & Williams
AR: Andy Robinson, Managing Director, Global Head of Origination, Nord/LB
TMar: Tomas Marutz, COO, SIAG
HL: Heiko Ludwig, MD Head of Energy Origination Europe, Nord/LB
PS: How do you assess liquidity among project finance banks for offshore wind assets?
AR: The availability of liquidity for project finance is a topic of much debate at the moment. I think the offshore market is going to attract a significant portion of what liquidity there is because of the future pipeline and the size of the individual projects. I think...
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