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Offshore wind power

We finance offshore wind farms and support the energy turnaround.

Financing case Butendiek: Green power from the North Sea

KfW IPEX-Bank, along with UniCredit and Bremer Landesbank, is leading a banking consortium to finance the Butendiek offshore wind farm and thereby ensure the creation of another offshore wind farm in the German sector of the North Sea. A total of nine commercial banks, the promotional banks EIB and KfW, the Danish export credit insurer EKF and an investor group are all participating in this large-scale project.

80 turbines with a total capacity of 288 megawatts

Butendiek (in Low German this translates to "beyond the dyke") is located around 32 km west of the island of Sylt. Good seabed conditions and low water depth (around 19-22 meters) provide a favourable environment for the offshore wind farm. It is equipped with 80 Siemens 3.6 MW turbines, and has a total capacity of 288 megawatts. Siemens is also responsible for servicing the turbines.

The Dutch manufacturer Ballast Nedam supplied the foundations, Visser & Smit Marine Contracting (also from the Netherlands) provided the wind farm cabling and the Belgian company Fabricom/GdF Suez was responsible for the offshore transformers.

Commissioned in summer 2015

Component production began in 2013. Installation started in the first half of 2014 and was completed by August 2015. The Butendiek wind farm was officially inaugurated on 8 September 2015.

Butendiek financing at a glance:

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Project profile
  • Investment volume: EUR 1.4 billion
  • Bank investment: EUR 939 million
  • Private investment: EUR 482 million
Contribution of KfW IPEX-Bank
  • Loan volume: EUR 55 million
  • Mandated Lead Arranger, Technical Bank, Insurance Bank, Joint Book Runner
  • Inclusion of KfW funds from the Offshore Wind Energy Programme (for third time since programme start in 2011)