In the Northern foothills of the Velebit mountain range, along the Adriatic coast, the SELAN Holding GmbH (wholly owned subsidiary of Baader Bank AG) operates the Vratarusa/Senj I project. It is one of the first wind parks connected to Croatia’s national grid.
The area is known for the Bora downdrafts, which are among the strongest winds in the world, with speeds of up to 60 m/s (about 210 km/h). The Vestas V90 turbines are therefore equipped with special early warning systems to minimise downtimes and improve performance.
The 42 MW project was financed by Hamburg Commercial Bank AG and has now been refinanced by Erste Group Bank AG and Erste & Steiermärkische Bank d.d.
Tim Stahlberg, Jonathan Reuther, Carolin Klüpfel and Phillipp Lohse have advised Erste Group Bank AG on various project and finance agreements in connection with the refinancing of the project.