It will use GE’s 6MW Haliade turbine, and is scheduled to start operating in March 2019. It will be eligible for Germany’s feed-in tariff (FIT) system, which is being phased out in favour of auction tendering.
The development consortium is led by investment managers Partners Group, which holds a 50% stake. GE Energy Financial Services holds 6.25% of the shares.
The developers provided €500 million in equity, while a group of ten international and German banks committed €1.2 billion of senior secured debt.
Located 45 kilometres north of the island of Borkum, Merkur will be the first offshore project in Europe to use the GE Haliade turbine.