KfW IPEX-Bank announced its plans to provide loans of around 104 million ($117 million) to the French energy provider Neoen under KfWs Renewable Energies Programme.
KfW will provide financial support for Neoen‘s three renewable energy projects. The first project is a 30 MW solar farm under construction in the Tarn department in southwestern France. German SolarWorld is currently supplying PV modules for the project. The facility is expected to be completed later this year.
Two other projects financed by KfW are Bussy Lettrée and Raucourt II wind plants in Northeastern France. Both facilities totaling 46 MW are expected to be connected by the end of 2016.
KfWs Renewable Energies Programmes are involved in the structured financing arrangements, which have terms of up to 19 years. This financing arrangement may also involve other banks by means of syndication. However, at the moment, KfW IPEX-Bank is the only provider of debt capital for this portfolio, the bank said in the announcement.
This is not the first time for KfW to provide financial support for Neoens renewable projects. The two companies recently worked together on the 100 MW Hornsdale wind farm in Australia.
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 Corporate Finance Director at Neoen Charlie Canevet.