KfW IPEX-Bank finances SeaMade offshore project in Belgium

KfW IPEX-Bank is participating in the financing of the 487 MW SeaMade offshore wind project in the Belgian North Sea. The total investment volume is more than EUR 1.3 billion, with KfW IPEX-Bank providing about EUR 160 million debt capital. In addition to the project and export financing arm of KfW Group, the European Investment Bank (EIB) and the Danish export credit agency EKF are also involved in the financing along with 14 commercial banks.

The SeaMade project consists of the two offshore wind farms 'Mermaid' (235 MW) and 'Seastar' (252 MW). Overall, 58 Siemens Gamesa Renewable Energy SWT-8.0.167 wind turbines will be installed.

The financing from KfW IPEX-Bank will help ensure a sustainable supply of electricity from renewable sources for Belgium and, in this way, will make an important contribution to climate and environmental protection.