Business World of Renewable Energy

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KfW IPEX-Bank Finances Another Wpd Wind Project In Sweden

Bremen, Germany - The expansion of onshore wind energy in Sweden has developed with increasing momentum in recent years. Wpd Europe GmbH, a subsidiary of Wpd AG, is also benefiting from this.

KfW IPEX-Bank and Wpd Europe GmbH are further expanding their cooperation. KfW-Ipex Bank is financing the construction and operation of another wind farm in Sweden for the German project developer and is providing all debt capital including the required ancillary facilities.

Swedish 47.2 MW wind farm to be realized in cold-climate variant

The Swedish wind farm "Stöllsäterberget" with a total capacity of 47.2 MW financed by KfW IPEX Bank will consist of a total of 8 Nordex wind turbines of the type N-163/5.9 MW from the Delta 4000 series and is scheduled to go into operation at the end of 2023. In view of the harsh weather conditions, the turbines will be supplied in the cold-climate variant with anti-icing system. In addition, Nordex will be responsible for the continuous maintenance of the wind farm.

The developer and sole shareholder of the wind farm is Wpd Europe GmbH. The customer for the "green" electricity is a large, unnamed international tech company with which a 10-year pay-as-produced PPA has been concluded.

The "Stöllsäterberget" project is now the fourth joint transaction between KfW IPEX-Bank and Wpd Europe GmbH in Scandinavia. For Wpd, in turn, the Swedish project is another important step in its growth strategy in Europe's core markets.

The state of wind energy in Sweden

According to the Swedish Wind Energy Association, a total of over 4,800 wind turbines with a capacity of 12,200 MW were connected to the grid in Sweden at the end of 2021, following an addition of around 2,100 MW. In total, wind turbines in Sweden fed around 26.3 billion kWh of wind power into the grids last year. This is according to a recent IWR analysis of data from the European transmission system operators (Entso-e). The highest feed-in line was reached by Swedish wind turbines with 10,069 MW on Jan. 20, 2022. On this day, the wind power feed-in is also the highest value so far with almost 240 million kWh.

About the companies

Wpd develops and operates wind farms onshore and offshore as well as solar farms. Founded in 1996 and headquartered in Bremen, Germany, the company is active in 30 countries worldwide and has implemented wind energy projects with around 2,520 wind turbines and a capacity of 5,620 MW. Its project pipeline totals 13,870 MW of wind onshore, 30,400 MW of wind offshore and 2,300 MWp of solar energy.

KfW IPEX-Bank is responsible for export and project financing within KfW Bankengruppe. By structuring medium- and long-term financing for German and European exports, infrastructure investments and securing raw materials, as well as environmental and climate protection projects around the world, it supports domestic companies in key industrial sectors on global markets. As a transformation bank, it finances technologies of the future to accompany the transformation to a sustainable society in the economic, environmental and social sectors. KfW IPEX-Bank's onshore portfolio in Scandinavia, including the Stöllsäterberget wind farm now being financed, currently has a cumulative capacity of around 2,000 MW (2 GW).

Source: IWR Online, 30 Aug 2022