Siemens to Supply 6-MW Turbines for Wind Farm Off Coast of England

 Siemens to Supply 6-MW Turbines for Wind Farm Off Coast of England

Siemens (NYSE: SI) will supply and install more than four dozen turbines for a $2.3 billion wind project off the southeast coast of England.

Galloper Wind Farm Ltd. will feature 56 SWT-6.0-154 wind turbines and with a total capacity of 336-MW will supply clean power to up to 336,000 British homes.

Siemens will also provide service for the turbines for 15 years.

 “We are pleased that Siemens will again be supplying the 6-MW wind turbines for an offshore wind power plant in the U.K.,” said Michael Hannibal, offshore chief executive officer of Siemens AG Wind Power and Renewables Division.

Siemens has already sold 300 6-MW wind turbines for use in U.K. and German projects.

The Galloper project is owned by RWE, U.K. Green Investment Bank, Macquarie Capital and Siemens Financial Services (SFS).  Each holds a 25-percent stake.

Installation for the Galloper project begins May 2017.  The turbines will be constructed on monopiles about 12 miles off the coast of Suffolk in water up to about 118 feet deep.

The plant is expected to be fully operational by March 2018.

SFS provided 25 percent of the total project equity, securing Siemens’ bid, and supporting RWE with development funding prior to financial close.

“The speed in which we achieved financial close, which included securing debt investments from a club of commercial lenders, is testament to the market’s appetite for well-structured offshore wind investments and its confidence in Siemens’ technical and financial expertise in this sector,” said Kirk Edelman, head of Energy Finance at SFS.

Galloper is an extension of the Greater Gabbard offshore wind farm, already online, which has an installed capacity of 504-MW using 140 Siemens wind turbines and generating power for 530,000 British homes since 2012.

Siemens has erected an offshore capacity of more than 5.8 GW worldwide, including 2 GW commissioned in the last fiscal year.

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