German Volkswind, a wind project company based in Ganderkesee, has raised EUR 10 million in mezzanine financing and becomes one of the first wind companies to enter the institutional mezzanine capital market. Volkswind was advised on the transaction by London finance house Ethos Partners, which has specialised in renewable energy. Ethos' Frank Esslinger says Volkswind's creditworthiness, confirmed by a rating of A- from Hermes, part of the Allianz group, "contributed considerably to the swift placement of the mezzanine capital with a specialised institutional mezzanine investor focussed on middle-sized German companies." The money raised will be used as "equity replacement" to finance specific wind projects, says Matthias Stommel, co-owner of Volkswind. The company, founded in 1993, employs 22 people and has about 100 MW of wind in its asset portfolio, with a further 100 MW permitted for construction in France as well as projects in the German states of Thüringia and Saxony Anhalt and activities in Spain. Mezzanine finance combines elements of both debt and equity.
Leading business intelligence for the wind community.
- In-depth news, analysis, market insight and trends.
- Join today and get your first 30 days free
Tech that has more commonly been used to monitor damage to structures such as bridges is now coming to the fore in the wind industry as a more efficient way to detect blades that have been compromised
No wind farm or operator is the same. That’s why Winergy offers turbine-ready service solutions
Keynote speaker at Blades USA 2022 – David Kaskie, vice president of Products & Systemsdivision, MISTRAS Group – on the importance of getting creative.
How a continuous monitoring solution from Ping is helping turbine owners and providers of predictive analytics minimise blade O&M costs