Offshore wind power
We finance offshore wind farms and play a role in implementing the energy transition.
Financing case: Triton Knoll wind farm in the British North Sea
Project profile - financing:
- Overall project financing amounts to GBP 1.75 billion
- International bank syndicate made up of KfW IPEX-Bank, Sumitomo Mitsui Banking Corporation, ABN AMRO Bank, MUFG Bank, ING Bank, Landesbank Hessen-Thüringen Girozentrale, Natixis, Bayerische Landesbank, National Westminster Bank, Lloyds Bank, Skandinaviska Enskilda Banken, Commerzbank AG, BNP Paribas, Landesbank Baden-Württemberg and Banco Santander.
Contribution of KfW IPEX-Bank:
- Debt provider as Mandated Lead Arranger / Original Lender
- Interest Rate Hedge Provider
Project profile - wind farm:
- Triton Knoll is being developed 32 km off the coast of Lincolnshire in the east of England with a planned capacity of 860 MW.
- The total investment volume is approx. GBP 2 billion.
- innogy SE is both developer of the project and majority shareholder. In addition to managing construction of the wind farm, it is also in charge of operations and maintenance on behalf of its project partners J-Power and Kansai Electric Power.
- MHI Vestas is responsible for the installation of 90 x 9.5MW V164 wind turbines.
- Siemens is building the onshore and offshore substations for the project. Further main suppliers are 3SF (Sif Netherlands B.V. and Smulders Projects Belgium N.V.), NKT and Boskalis Subsea Cables & Flexibles, GeoSea, J. Murphy & Sons and Seaway Heavy Lifting.
- The commissioning of the wind farm is scheduled to start in 2021. Once fully operational, Triton Knoll will supply the equivalent of 800,000 British households with green energy every year.
The financing from KfW IPEX-Bank will help ensure a sustainable supply of electricity from renewable sources for the UK and, in this way, will make an important contribution to climate and environmental protection.