European Investment Bank (EIB) is considering extending a loan of €450m to WPD for the construction of an offshore wind farm in Germany.

Construction of the wind farm is estimated to cost about €1.29bn.

The Butendiek project, will be constructed in the North Sea near the Danish border and will be capable of generating up to 288MW of energy.

The new facility will be equipped with 80 turbines of 3.6MW each, reports Bloomberg.