WPD has revealed that KfW IPEX-Bank is providing the entire debt capital, including necessary ancillary facilities, for the construction and operation of its Swedish wind farm Stöllsäterberget.
Upon commissioning at the end of 2023 the wind farm will consist of eight N163/5.9MW wind turbines with a total installed capacity of 47.2MW from Nordex’s Delta 4000 series.
The turbines of the cold-climate version come equipped with an anti-icing system to persist in the harsh Nordic environment.
Additionally, continued maintenance of the wind farm will be provided by Nordex.
Offtaker of the ‘green’ electricity will be a major international technology corporation with which a 10-year pay-as-produced PPA was concluded, WPD said.
KfW IPEX-Bank management board member Velibor Marjanovic said: “KfW IPEX-Bank is acting out of conviction.
“With our financing we are supportingnot only our long-standing core customer wpd europe GmbH, but also the energy transition – after all, no matter where in the world the use of renewable energy is expanded, this has a proven positive impact on the global climate.
“And this is achieved by drawing on reliable modern technologies such as turbines, which are able to generate ‘green’ energy even under challenging conditions.”
KfW IPEX-Bank’s onshore portfolio in Scandinavia, including the Stöllsäterberget wind farm now being financed, currently amounts to around 2GW (cumulative; installed capacity).
The Stöllsäterberget project already marks the fourth joint transaction by KfW IPEX-Bank and WPD in Scandinavia.
For WPD, the Swedish project is another major step on its consistent growth path in Europe’s core markets.
WPD head of international project finance Ralf Ketteler, : “As one of the leading developers and IPPs in the market, trusting and sustainable cooperation with experienced partners is of particular importance to us.
“Considering the growing number of our international projects, we are pleased to have strong partners at our side – partners with whom we can successfully pursue WPD’s course of expansion and jointly support efforts for sustainable economic and ecological development.”
The demand for renewable energies and the necessity to add to capacities to achieve full decarbonisation is accelerating the global expansion scenarios.
WPD chief operating officer Hartmut Brösamle said: “To reach our goals we are strongly expanding our own development of projects worldwide and concluding sustainable contracts with cooperation partners.
“Due to our expanding activities we are constantly looking for new colleagues in all areas of project development, financing and construction at both our German and our international locations.”