Everoze Advises Lenders on Hohe See and Albatros Offshore Wind Farm Refinance

March 2020

Everoze was delighted to advise the lenders led by the Talanx Group on the technical side on the EUR 510.6 million green bond refinancing of CPP Investments’ minority interest in the Hohe See and Albatros offshore wind farms in Germany. CPP Investments were supported by financial advisor Amscap on coordination of the financing process.

Hohe See and Albatros, with a combined capacity of 609MW, is Germany’s largest offshore wind power plant, located in the North Sea approximately 100 kilometres north of Borkum. In total, 87 SGRE-7.0-154 wind turbine generators were installed on monopile foundations over an area of approximately 53 square kilometres. Both Hohe See and Albatros are fully installed and connected to the grid, now generating approximately 2,500 GWh of electricity annually, enough clean energy to power around 710,000 homes. Hohe See and Albatros were developed by EnBW.

Everoze’s scope of work included energy yield assessment alongside a technical review of permits, grid, electrical and structural design, turbine, construction contracts, operational contracts, financial model inputs and construction completion.

Quentin Le Noach, Amscap Investment Manager:  “It has been a pleasure working with Graeme and his team at Everoze. The team displayed a strong technical expertise and familiarity with the technology and production parameters. The team’s flexibility and responsiveness throughout the process of this innovative HoldCo financing was highly appreciated.”

Everoze will continue to support the lender with operations monitoring.

Everoze’s work has been led by Graeme Wilson supported by a broader project team including Jo de Montgros, Richard Whiting and Nick Baldock. For more details, Amscap’s press release is available here.