Clean electricity from Swedish wind
Press Release from 2013-08-05 / KfW IPEX-Bank
KfW IPEX-Bank and SEB AG are participating in the further development of the largest European wind energy project Markbygden in the north of Sweden. The loan financing of EUR 84.5 million for the sub-project Skogberget will be provided by both banks in equal shares.
The sub-project now being financed has a capacity of 84.6 MW. The 36 wind turbines of the type E-92 will be supplied by the wind turbine manufacturer Enercon of Aurich. Enercon is also together with the Swedish company Svevind project sponsor of the wind farm, and a long-time business partner of SEB and KfW IPEX-Bank. With more than 20,000 wind turbines installed in more than 30 countries, the German market leader is also one of the leading manufacturers in the world. Svevind is one of the leading developer and operator of wind energy projects in Sweden.
Markus Scheer, Managing Director of KfW IPEX-Bank on the occasion of the signing underlined the importance the project: “With the wind farm project Markbygden we finance a promising flagship project in the growing market for renewable energy in Sweden.”
Dr Christoph Tomas, Head of Project, Asset and Export Finance of SEB: “Supporting German enterprises in their export business and financing projects aimed at protecting environment and climate, is an integral part of both bank's business spectrum.”
Markbygden is gradually being expanded to become the largest contiguous wind farm in Europe. It is being developed near the polar circle, where meteorological conditions and the existing infrastructure are excellent for wind power generation.
By 2021 up to 1,101 wind turbines with a total installed capacity of up to 4,000 MW will be erected in several phases on an area of 450 km². It is estimated that the wind farm Markbygden could cover up to eight percent of Sweden's electricity demand.
About KfW IPEX-Bank GmbH
Within the KfW Group, KfW IPEX-Bank is responsible for international project and export finance. Its function of providing financing to boost the German and European economy is derived from the legal mandate assigned to KfW. It offers medium- and long-term financing to support key export industries, to develop economic and social infrastructure and to fund environmental and climate protection projects. KfW IPEX-Bank operates as a legally independent group subsidiary and plays a major role in fulfilling KfW's promotional mission. It is represented in the most important economic and financial centres across the globe.
SEB is a leading Nordic financial services group. As a relationship bank, SEB in Sweden and the Baltic countries offers financial advice and a wide range of financial services. In Denmark, Finland, Norway and Germany the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in its presence in some 20 countries worldwide. At 30 June 2013, the Group's total assets amounted to SEK 2,596 billion while its assets under management totalled SEK 1,387 billion. The Group has around 16,000 employees, thereof 1,000 in Germany. Read more about SEB Group at www.sebgroup.com and about SEB Germany at www.seb.de.
Press contact SEB:
+ 49 69 258-6406
Press contact KfW IPEX-Bank
+ 49 69 7431-2984