KfW IPEX-Bank finances 76 MW of renewable energy for NEOEN
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KfW IPEX-Bank is providing loans with a total volume of around EUR 104 million to the French energy provider NEOEN to support the execution of a project portfolio, which involves a 30-MWp photovoltaic facility and two wind farms for a total capacity of 46-MWp in France. KfW’s Renewable Energies Programmes are involved in the structured financing arrangements, which have terms of up to 19 years. As the arranger and sole lender, KfW IPEX-Bank is, for the time being, the only provider of debt capital for this portfolio. This green financing arrangement may also involve other banks by means of syndication.
KfW IPEX-Bank and NEOEN share a long-standing partnership. The two companies recently worked together on the 100 MW Hornsdale wind farm in Australia in 2015. “We are happy to be working with KfW IPEX-Bank again on our new projects in France. For our global activities in the field of renewable energies, we partner with dependable banks with proven structuring expertise,” said Charlie Canevet, Corporate Finance Director at NEOEN.
The German manufacturer SolarWorld is supplying the modules for the PV facility, currently being constructed in the Tarn department in south-western France. Wind farm manufacturer Enercon, which is based in Germany, and the Danish company Vestas are supplying the equipment to the Bussy Lettrée and Raucourt II wind projects in Northeastern France. The PV facility will be completed soon and the two wind farms will follow by the end of 2016.
