The energy market’s transition from fossil-fuel dependency to a cleaner, greener system has been gaining significant momentum over the past five years. In particular, offshore wind has gone from strength to strength. As such, Standard & Poor’s Ratings Services assigned their first ever preliminary credit rating of ‘BBB-’ to offshore wind project WindMW.
Commonly known as Meerwind, the wind farm is located off the north coast of Germany, and has launched dual-tranche bond issues totalling over $1 billion. According to primary credit analyst Michael Ferguson, the stable outlook reflects the expectation of predictable wind resources and operations that should maximize availability, as well as an agreement with Siemens.
Thanks to targeted media coverage from Moorgate, the news was picked up by a range of specialist energy and investment press, including Environmental Finance, PEI’s Low Carbon Energy Investor, PFI (Paywall) and IJGlobal (Paywall).