Windreich's 400-MW Global Tech I offshore wind park, located in German North Sea, named "Wind Deal of the Year' by trade magazine Project Finance International for its strong partnerships, prime location, on-schedule progress

Tracy McDonald

WOLFSCHLUGEN, Germany and LONDON , December 29, 2011 (press release) – The Windreich AG's offshore wind park, Global Tech I, is the best offshore project in all of Europe. The internationally renowned trade magazine Project Finance International, PFI for short, named Global Tech I 'Wind Deal of the Year'. The official PFI Awards ceremony will take place in London on January 25, 2012.

According to Windreich's CEO and owner, Willi Balz, this award is proof of Windreich's excellent project management capabilities. The 400 megawatt offshore project Global Tech I is the first of its kind to obtain a Financial Close bringing the energy revolution in Germany one step closer.

'We are very proud to receive the PFI Award 2011, and it is added motivation for us to bring Global Tech I to the grid according to schedule, says Tim Kittelhake (Windreich Project Manager of Global Tech I).

Global Tech I is one of the most promising offshore projects in the German North Sea with final completion moving according to plan. The offshore park will already begin producing and feeding electricity into the grid in 2012. By 2013, all of the eighty 5-megawatt wind turbines will be installed and hooked-up to the grid. The Federal Network Agency already approved the grid connection in 2009.

In addition to good bank relationships, one of the many criteria which helped Global Tech I reach its superior standing is its particularly strong partner relationships. The wind turbines will be built by AREVA Wind GmbH, the wind turbine installation will be completed by Hochtief AG, and the transformer stations will be provided by Alstom Grid GmbH.

According to an industry report by wind:research, the Windreich Group has secured property rights for 35% of all possible offshore wind park projects in the German North Sea making the company market leader in this market segment. The German North Sea is considered to be the best location world-wide for the erection of offshore wind parks.

For further information regarding the Windreich AG, please visit www.windreich.ag.

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