KfW IPEX-Bank finances wind turbines for the Volkswagen Group
News from 2019-02-08 / KfW IPEX-Bank
KfW IPEX-Bank is providing EUR 19.5 million in financing for the acquisition and assembly of four new wind turbines for Volkswagen Kraftwerk GmbH at the MAN Truck & Bus AG site in Salzgitter, Germany. KfW Renewable Energy Programme funds are included in this amount.
The turbines, made by manufacturer Enercon, are expected to feed energy directly into the factory's substation by the end of the year. Wind power is soon expected to cover a fifth of the electricity demand for the MAN plant in Salzgitter in Lower Saxony.
After financing the wind park at Volkswagen's Emden plant in 2014, this is the second time KfW IPEX-Bank has invested in the vehicle manufacturer's new approach to its energy supply. In addition to converting its own power plants from coal to gas, the Volkswagen Group is also increasingly operating plants that sustainably generate environmentally friendly power in line with its environmental objectives.