KfW IPEX-Bank finances Orlice wind farm in Croatia
Plant supplied by German wind turbine manufacturer Enercon
Frankfurt am Main (ots)
KfW IPEX-Bank GmbH finances the construction of a wind farm near Sibenik, around 60 km north-west of Split in Croatia with EUR 10.1 million. The total investment amount is around EUR 12.7 million. The refinancing also includes funds from the KfW Environmental Programme.
The wind farm, which has a total capacity of 9.6 megawatts, is the third one in Croatia. It comprises a total of eleven wind turbines that will be supplied, erected and commissioned by Enercon GmbH, one of the leading wind turbine manufacturers from Germany. Enercon will also perform the long-term operation and maintenance of the plant. The project was initiated by wpd AG of Bremen, one of Europe's major wind farm developers and operators, which has already realised a similar project several kilometres away. KfW IPEX-Bank enjoys good business relations with both Enercon and the wpd group for many years now.
The Orlice wind farm is scheduled to be commissioned this summer. The power it produces could for instance be used to supply a small town of around 20,000 inhabitants with green energy on a sustainable basis. A tariff system that is designed to promote renewables and guarantees a fixed basic payment, has been in place in Croatia since March 2007.
With Orlice wind farm KfW IPEX-Bank is supporting a promising project in the young market for renewable energies in Croatia. Financing projects for renewables is a permanent feature of KfW IPEX-Bank's portfolio, through which the bank also helps protect the environment and the climate.
About KfW IPEX-Bank GmbH
Within KfW Bankengruppe KfW IPEX-Bank GmbH provides project and corporate financing as well as trade and export financing domestically and abroad. Worldwide it conducts all market activities of KfW Bankengruppe that are carried out on commercial terms. KfW IPEX-Bank GmbH has been operating as a legally independent subsidiary since 1 January 2008 and contributes significantly to the promotional mission of KfW Bankengruppe. It has approx. 490 employees (as of June 2009) and is represented in the key economic and financial centres throughout the globe.
Contact:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: dela.strumpf@kfw.de
Tel.: 069 7431-2984, Fax: 069 7431-9409,
E-Mail: info@kfw-ipex-bank.de, Internet: www.kfw-ipex-bank.de
Original content of: KfW IPEX-Bank, transmitted by news aktuell