KfW IPEX-Bank to finance innovative battery technology for rail transport in the Ortenau network in Baden-Württemberg
Press Release from 2020-03-17 / KfW IPEX-Bank
- Financing for 20 new battery-powered electric multiple-unit trains
- Replacement of diesel railcars in the Ortenau network
- Electrical operation on electrified and non-electrified sections of lines
KfW IPEX-Bank is providing financing for 20 new battery-powered electric multiple units (BEMU) for the Baden-Württemberg public transport company (NVBW). The financing of EUR 77 million has a term of 28 years. Already in 2019, the bank had financed 18 (conventional) multiple units for NVBW for use on the Zollernalbbahn railway line.
The Mireo trains of the manufacturer Siemens Mobility are produced in Krefeld. With the help of a new kind of battery technology, they can operate electrically with overhead wires as well as on non-electrified routes – in this case with the battery. The innovative multiple units are to be deployed in the Ortenau network, which is currently served by diesel locomotives. The new operator of the line will be TRAPICO (Schieneninnovations GmbH), a 95% subsidiary of Südwestdeutsche Landesverkehrs-AG (SWEG), starting in December 2023.
“The financing not only contributes to directly reducing CO2 emissions, but also to promoting innovative and climate-friendly technologies in rail transport,” says Andreas Ufer, Member of the Management Board of KfW IPEX-Bank. With this financing, KfW IPEX-Bank underscores its commitment to the use of these technologies in Germany and Europe.
Financing according to the Ortenau network model
The Landesanstalt Schienenfahrzeuge Baden-Württemberg (SFBW) is responsible for the procurement and financing of the railcars needed for the network put out to tender (Ortenau network model) on behalf of the State of Baden-Württemberg, the public transport authority for local rail passenger transport. The Ortenau network model is unique in that the railcar manufacturer not only produces and supplies the railcars, but also makes them available ready for operation on an ongoing basis. The SFBW thus becomes the owner of the railcars and makes them available to the railway company for the duration of the transport contract. To finance the purchase price of the railcars, the Landesanstalt takes out loans secured by a guarantee by the federal state of Baden-Württemberg.