Siemens has bagged contract worth €700 million from wpd group, Germany for the supply and installation of 288-MW offshore wind turbines off Germany’s North Sea coast. The agreement also include long-term maintenance contract for 10 years.
The equity portion of the €3.1-billion project will be contributed by the Siemens Financial Services, Marguerite Fund, Industriens Pension, PKA A/S each investing 22.5% and while 10% will be infused by wpd AG. The aforementioned parties have been aligned their resources to fund the project finance of 67% senior debt and 33% equity basis along with a consortium of up to nine banks involving multilateral institution such as the European Investment Bank and KfW (the German development bank).
The Siemens Group in India has emerged as a leading inventor, innovator and implementer of leading-edge technology enabled solutions operating in the core business segments of Industry, Energy and Healthcare.
