KfW IPEX-Bank finances Yunlin offshore wind farm in Taiwan

KfW IPEX-Bank is participating in the financing of the 640 MW Yunlin offshore wind farm off the western Taiwanese coast. The total investment cost for construction amounts to EUR 2.7 billion, with KfW IPEX-Bank contributing a tranche of altogether EUR 125 million.

The wind farm is being erected eight kilometres off the coastline of Taiwan. Siemens Gamesa will supply 80 offshore wind turbines of the type SG 8.0-167 DD with a capacity of 8 MW each. Construction is scheduled to start in 2019, with installation of the turbines planned from 2020. Project completion is slated for the end of 2021.

The financing from KfW IPEX-Bank for the wind farm and for other renewable energy projects will contribute significantly to global climate and environmental protection. At the same time, the bank is supporting the export of European technology, thus also safeguarding jobs in Germany and Europe.

Apart from KfW IPEX-Bank a further 18 international banks are involved in the financing, as are three export credit agencies from Denmark (EFK), the Netherlands (Atradius) and Germany (Euler Hermes). Developer and operator of the Yunlin wind farm is the German company wpd AG based in Bremen.