KfW IPEX-Bank is providing the entire debt capital, including necessary ancillary facilities for the construction and operation of the Swedish wind farm “Stöllsäterberget” by the German project developer wpd europe GmbH (wpd). Thus, another project contributing to the energy transition is becoming a reality thanks to financing of KfW IPEX-Bank.
Upon commissioning at the end of 2023, the wind farm will consist of eight N163/5.9 MW wind turbines with a total installed capacity of 47.2 MW from the Delta 4000 series by the German manufacturer Nordex. The turbines of the cold-climate version come equipped with an anti-icing system to persist in the harsh Nordic environment. Additionally, continued maintenance of the wind farm will be provided by Nordex. Developer, sponsor and sole shareholder is wpd europe GmbH, a long-standing customer of KfW IPEX-Bank with extensive experience in developing and operating wind farms. Offtaker of the ‘green’ electricity will be a major international technology corporation with which a 10-year pay-as-produced PPA was concluded.
“KfW IPEX-Bank is acting out of conviction,” said Dr. Velibor Marjanovic, member of the Management Board of KfW IPEX-Bank. “With our financing, we are supporting not only our long-standing core customer wpd europe GmbH but also the energy transition – after all, no matter where in the world the use of renewable energy is expanded, this has a proven positive impact on the global climate. And this is achieved by drawing on reliable modern technologies such as turbines, which are able to generate ‘green’ energy even under challenging conditions.”
KfW IPEX-Bank’s onshore portfolio in Scandinavia, including the financed Stöllsäterberget wind farm, currently amounts to around 2 GW (cumulative; installed capacity). With its wind energy financings, KfW IPEX-Bank is thus making an important contribution to global climate and environmental protection.
The Stöllsäterberget project is the fourth joint transaction by KfW IPEX-Bank and wpd europe GmbH in Scandinavia. For wpd, the Swedish project is another major step on its consistent growth path in Europe’s core markets.
Ralf Ketteler, Head of International Project Finance at wpd: “As one of the leading developers and IPPs in the market, trusting and sustainable cooperation with experienced partners is of particular importance to us. Considering the growing number of our international projects, we are pleased to have strong partners at our side – partners with whom we can successfully pursue wpd’s course of expansion and jointly support efforts for sustainable economic and ecological development.“
The demand for renewable energies and the necessity to add capacities to achieve full decarbonisation is accelerating the global expansion scenarios.
“To reach our goals, we are strongly expanding our own development of projects worldwide and concluding sustainable contracts with cooperation partners. Due to our expanding activities, we are constantly looking for new colleagues in all areas of project development, financing and construction at both our German and our international locations,” said Dr Hartmut Brösamle, COO of wpd AG, emphasising the importance of the team for further growth of the wpd Group.
Image source: Courtesy of wpd
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