KfW backs Neoen renewable energy projects with EUR-104m loan
Solar farm in France. Featured Image: Mny-Jhee/Shutterstock.com
Germany’s KfW IPEX-Bank said on Wednesday it is lending a total of EUR 104 million (USD 116.5m) to French power producer Neoen for the purpose of realising the projects within a 76-MW renewable energy portfolio.
Neoen will use the loans to support the execution of a 30-MWp solar photovoltaic (PV) project and two wind schemes totalling 46 MWp, all located in France. SolarWorld (ETR:SWVK) is the supplier of PV modules for the solar park, while Enercon and Vestas (CPH:VWS) are delivering turbines for the Bussy Lettree and Raucourt II wind projects.
In its statement, KfW IPEX-Bank said that the solar plant should be finalised soon, while the wind farms will be completed by the end of the year.
Last year, Neoen secured a debt financing package from KFW IPEX-Bank and Societe Generale (EPA:GLE) for the 100-MW phase 1 of the up to 270-MW Hornsdale wind project in South Australia.