the company is also one of the investors and that it has taken on the entire project management for
Butendiek. Ail these factors taken together make Butendiek a complété package for us.
Is the decision of the Marguerite Fund and the other investors to invest in Butendiek, based on technical details such as the type of
turbines, foundations, cable routes, etc., or are these aspects not really taken into considération?
We studied and analysed the contracts for the main components and disciplines but also ail agreements for the construction of Butendiek intensively during the due diligence process. In other words, we
did not just base our decision to invest in Butendiek on profitability calculations.
How is the coordination within the group of investors organised?
We investors meet once a month for a fixed meeting. If necessary, we also organise ad hoc conférence
calls with the resuit that we are always exchanging information.
How is the consultation with the management of the Butendiek offshore wind farm governed? Hâve you always felt well informed
on the progress of the project? wpd send us well prepared reports on each process steps and on how construction is progressing on
a regular basis. We are always informed immediately in the event of major decisions or incidents. AH
the investors felt, therefore, they were always being kept well informed about the course of the project.
How do you see the future of offshore wind power? What are the prospects here for investors?
I assume that the use of offshore wind power will increase ail around the world. This will also open up
opportunities for investors. However, I also assume that the number of investors who are prepared to
also bear a share of the construction risk for an offshore wind project, will remain limited. There will be
some investors and I include the Marguerite Fund in that group and maybe a handful of pension funds
from Denmark. The current interest of some major asset managers proves that offshore wind power
is definitely attractive for investors. I assume we will soon see further institutional investors in the offshore wind industry.
Do your expériences with Butendiek give you the motivation to invest in further offshore wind farms?
Marguerite Fund is constantly looking at opportunities to invest capital. We are certainly prepared to
invest in further offshore wind farm projects - on condition that they meet our reguirements.
152
Butendiek. Ail these factors taken together make Butendiek a complété package for us.
Is the decision of the Marguerite Fund and the other investors to invest in Butendiek, based on technical details such as the type of
turbines, foundations, cable routes, etc., or are these aspects not really taken into considération?
We studied and analysed the contracts for the main components and disciplines but also ail agreements for the construction of Butendiek intensively during the due diligence process. In other words, we
did not just base our decision to invest in Butendiek on profitability calculations.
How is the coordination within the group of investors organised?
We investors meet once a month for a fixed meeting. If necessary, we also organise ad hoc conférence
calls with the resuit that we are always exchanging information.
How is the consultation with the management of the Butendiek offshore wind farm governed? Hâve you always felt well informed
on the progress of the project? wpd send us well prepared reports on each process steps and on how construction is progressing on
a regular basis. We are always informed immediately in the event of major decisions or incidents. AH
the investors felt, therefore, they were always being kept well informed about the course of the project.
How do you see the future of offshore wind power? What are the prospects here for investors?
I assume that the use of offshore wind power will increase ail around the world. This will also open up
opportunities for investors. However, I also assume that the number of investors who are prepared to
also bear a share of the construction risk for an offshore wind project, will remain limited. There will be
some investors and I include the Marguerite Fund in that group and maybe a handful of pension funds
from Denmark. The current interest of some major asset managers proves that offshore wind power
is definitely attractive for investors. I assume we will soon see further institutional investors in the offshore wind industry.
Do your expériences with Butendiek give you the motivation to invest in further offshore wind farms?
Marguerite Fund is constantly looking at opportunities to invest capital. We are certainly prepared to
invest in further offshore wind farm projects - on condition that they meet our reguirements.
152