Danish export credit agency EKF recorded a Dkr417m profit for 2015 on the back of a growing wind industry loan book.
The lender said today that more than half of its new loans agreed last year were for wind farm projects, with debt finance of Dkr7.6bn made available to developers during the year.
Among the financing deals was a Dkr1.6bn loan for the 402MW Veja Mate offshore wind farm in the German North Sea.
EKF said it also provided debt finance of Dkr1.1bn for the 165MW Belwind 2 offshore wind farm off the Belgium coast.
However, the bank said the revival of international banks will lead to an evolution for lenders.
“More and more international banks and investors have wrested free of the financial crisis and sign up now on the field with venture capital for green investments,” it said.
“That meant noticeably better access to financing at significantly lower prices and for several projects. It is a healthy and positive development, which indicates a more mature market, but also a development which places new demands on EKF.”
EKF also said it expects to see growth in Turkey, one of its largest markets for lending to wind developers.
Image: reNEWS
Danish lender banks wind gains
EKF records Dkr417m profit on back of growing renewables loan book
By EBS