The equity component necessary for construction was previously secured by Wind Works through the sale of half its stakes in the project.
Wind Park Burg I is the first phase of a two-phase, 10MW wind energy project located near Magdeburg in the eastern part of Germany.
The 16-year debt financing includes EUR3.45m for the north turbine and EUR3.738m for the southern turbine, for a total of EUR7.188m.
The company’s German subsidiary Wind Works Development, will act as general contractor to deliver the project which is expected to begin construction in 2011.
In January 2011, the company has ordered two Enercon E82 turbines for the 4MW project.
