“With the financing of Borkum Riffgrund 2, we continue to consistently pursue our strategy of increasing the share of infrastructure investments in our portfolio. In doing so, we aim to counter the decline in yields resulting from the persisting low interest rate environment”, said Dr. Immo Querner, Chief Financial Officer of Talanx AG. “We expect new investments in infrastructure transactions to amount to EUR 300 million in equity and debt in 2018. Overall, we consider EUR five billion of investments in infrastructure achievable.”
Dr. Thomas Mann, spokesman for the Management Board of Ampega Investment GmbH, commented: “We are delighted that we, once again as lead manager for a group of institutional investors, were able to attract many of the same lenders to Gode Wind 1 as well as new ones at home and abroad to join the consortium. Thereby, the higher debt volume compared to Gode Wind 1 could still be raised confidently.”
Borkum Riffgrund 2 comprises the construction of 56 wind turbines with a combined output of 450 megawatts. With this capacity, it is envisaged to be able to provide power for around 460,000 homes. The turbines will be installed approximately 30 km north of Borkum, with technical completion planned for 2019. This offshore wind farm is one of the last major projects with an attractive feed-in tariff. Moving forward under the German Renewable Energies Act (EEG), subsidies provided to a transaction need to be bid in a competitive auction by prospective developers. It is expected that the senior bond for Borkum Riffgrund 2 will be certified externally as a “green bond”.
This news release contains forward-looking statements which are based on certain assumptions, expectations and opinions of the Talanx AG management. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG’s control, affect Talanx AG’s business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialise, actual results, performance or achievements of Talanx AG may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does Talanx AG accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.