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Interest in wind by small scale private investors in Germany
1 January 2005
German wind financier UDI, part of the Enertrag group, has raised EUR 10.6 million in equity from 800 private investors for the EUR 42.9 million Randowhöhe 1 wind station. It is the largest sum so far raised by the company for a single plant. The 17 turbine, 29.2 MW station was commissioned in 2003. Investor interest is in part due to rising fossil fuel prices "that make wind energy more valuable from day to day," but also because 2004 has been a better wind year than 2003, says the company. UDI issued a new product at the turn of the year, Enertrag EnergieZins 2008. The EUR 4 million bond runs for four years with fixed interest of 6.5% and will be used to finance a number of projects, including seven wind stations, one of which is built. UDI, based in Nürnberg, was founded in 1998. It has been in involved in financing more than 30 wind projects with a total value of about EUR 500 million.
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