KfW IPEX-Bank participates in financing for Ukrainian wind farm

KfW IPEX-Bank is participating in the financing for the first phase of the Primorsk wind farm with an installed capacity of 100 MW in southern Ukraine on the Sea of Azov. The debt amounting to approximately EUR 90 million will be provided by a consortium consisting of four German banks: KfW IPEX-Bank, BayernLB, AKA and Bremer Kreditbank. The export credit with a tenor of 10 years is covered by political and commercial export credit insurance by Euler Hermes.

The financing supports the export of technology and know-how by several German suppliers. The wind farm will, for instance, be equipped with 26 GE 3.8-130 wind energy converters with a capacity of 3.8 MW, which will be supplied by GE Wind Energy GmbH, Salzbergen.

The completion of the farm is scheduled for the end of 2018. The sponsor of the wind farm is DTEK Renewables B.V. The subsidiary of the DTEK B.V. energy group is the leading power producer from renewable energy sources in Ukraine.