Denmarks Ekportkredit (EKF) has just issued its second largest loan ever. The loan amount of 5.8 billion DKK is a ring-fenced credit facility granted to Italian Enel. The company is obliged to use the funds to purchase Danish energy solutions, including wind turbines from Vestas and Siemens Gamesa.
The loan agreement is the culmination of a collaboration between Enel and EKF Danmarks Ekportkredit, which began in 2013. The loan thus means export orders for Danish wind turbine companies. Orders that would not necessarily have ended up in Denmark if EKF had not been responsible for the financing, EKS states in a press release.
- We are happy every time we can provide loans that benefit Danish exporters, says Peter Boeskov, CCO at EKF.
The loan is the second largest loan in EKF's history, and thus only surpassed by a loan to Spanish Iberdrola before the summer holidays. In general, EKF is experiencing increasing interest in co-financing the energy giants' significant green investments in the coming years.
- We have been working on expanding our collaboration with Enel for some time, and this was a perfect opportunity. We are pleased to have closed this agreement, which finances a large portfolio of wind turbine projects with a total production capacity of more than 1.5 GW. The loan gives Enel the flexibility required to implement wind energy on a large scale, and we are happy to play a role in this. Furthermore, today is a milestone for EKF, as the transaction represents our first “sustainability-linked” loan, says Peter Boeskov.
Joy at Siemens Gamesa and Vestas
The loan will be of great importance to, among others, Vestas and Siemens Gamesa, who have collaborated with EKF for more than 20 years. Both Siemens Gamesa and Vestas are pleased with EKF's continued financing of green projects.
- Agreements like this are more important than ever to strengthen European wind energy producers, which provide critical infrastructure and help make the world less energy dependent. With more than 20 years of close cooperation, we at Siemens Gamesa continue to deliver the global green energy transition together with EKF, says Tim Dawidowsky, Siemens Gamesa COO and Chief Sustainability Officer.
The same tone is heard from Vestas.
- A strong partnership like this with our long-standing partners Enel and EKF will enable flexible, financial solutions that can help unlock the full potential of wind energy and further accelerate the global energy transition," says Javier Rodriguez Diez, CSO at Vestas.
The loan to Enel will be used on a wide range of the company's projects, including in South - Central and North America, Australia and Italy, and projects can be added along the way.
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