71.1 million USD or 463 million DKK. that is how much money EKF Denmark's Export Credit Agency has guaranteed in connection with Siemens Gamesa's nearshore wind project Tan Thuan in the southern Ca Mau province in Vietnam. The loan guarantee is the largest loan guarantee that EKF has provided to date and builds on close cooperation between EKF and Siemens Gamesa Renewable Energy, EFK writes in a press release.
The project off the coast of Ca Mau province in the southern part of Vietnam consists of 18 turbines of the SG 5.0-145 type with a flexible installed capacity of four MW to five MW, which together gives a wind farm of 75 MW.
- The Tan Thuan project in Vietnam is another highlight of the strategic partnership between EKF and SGRE, says Jan Christoph Meyer, Region Head of Project and Development Finance at Siemens Gamesa, who is responsible for the relationship with EKF.
- Once again, EKF has demonstrated a combination of strong customer focus, deep expertise and the ability to execute quickly. Siemens Gamesa looks forward to continued close cooperation with EKF in Vietnam and globally, wherever our future projects may require top-class financing solutions, says Jan Christoph Meyer.
The Tan Thuan project is the fourth nearshore wind project for Siemens Gamesa and for both Siemens Gamesa and EKF the largest collaboration in Vietnam to date. Due to Covid-19, the project has had difficult conditions, as Vietnam has been very affected by the pandemic and has been through a very strict lockdown.
- We have been working intensively with Siemens Gamesa for a number of years, and it is always a pleasure. And in this particular project, it is impressive that they have achieved this goal before the country was unfortunately strictly shut down due to the pandemic. Vietnam is an important market for the wind industry and therefore also for EKF, says Peter Boeskov, Chief Commercial Officer at EKF.
EKF is owned and guaranteed by the Danish state and operates an independent public company (SOV) under the Ministry of Business and Industry. The company helps companies insure companies and banks against the economic and political risks that may arise from trading with other countries.
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