Project financing for Canadian wind farm closed
Since this week the project financing for the Viger-Denonville wind farm in the Canadian province of Québec is in place: KfW IPEX-Bank is providing a long-term project financing loan of up to CAD 61.7 million. Supplier of the wind turbines is REpower, a German manufacturer of wind energy systems based in Hamburg. The project is being managed by the Canadian developer Innergex Renewable Energy Inc. jointly with the regional country municipality (RCM) Rivière-du-Loup.
Markus Scheer, member of the Management Board of KfW IPEX-Bank, commented on the closing: “KfW IPEX-Bank's financing for the Viger-Denonville wind farm in Canada focuses on one of the bank's priorities, namely environmental and climate protection. As REpower is involved in the project, the bank is also supporting the export of German-built wind turbines. We are pleased to work together once again with REpower, a long-time valued business partner of KfW IPEX-Bank.”
Plans call for the wind farm to be erected by the end of this year. When commercial operation begins 12 REpower MM92 wind turbines with a total capacity of 24.6 MW will supply several thousand Canadian households with green energy every year. In addition to supplying the turbines REpower is also in charge of commissioning and maintenance of the systems for the first ten years. Offtaker is the energy supply company Hydro Québec.
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.
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