Denmark’s state-owned fund IFU has agreed to provide a €15m loan to finance the construction of LM Wind’s new blade manufacturing plant in Turkey.
The Danish blade manufacturer has broken ground at the facility in Bergama, its fourteenth production plant globally.
The facility is expected to open by mid-2017 with an annual capacity of 500MW and the potential to reach up to 2GW, it said.
IFU offers advisory services and risk capital to Danish companies wishing to do business in developing countries and emerging markets.
“IFU is pleased once again to assist LM Wind Power’s geographical expansion, which will allow the company to play an even greater role in the renewable energy sector in the region, while at the same time contributing to local development by creating jobs, transferring knowledge and upholding high standards of corporate governance and business conduct,” IFU investment director Klaus Prebensen said.
Image: LM Wind
Danes bank LM Wind in Turkey
State-owned fund IFU will provide €15m loan for blade manufacturing plant
By EBS