wpd secures financing for onshore wind farms in Canada
The wind farm developer wpd, KfW IPEX-Bank and Helaba will jointly provide the funds for the construction of two onshore wind farms in Canada. wpd is delighted to make the announcement following its first “financial close” in Canada.
The wind farms will be constructed in Springwood and Whittington in southern Ontario. Work has already started, and once completed, the two projects will together consist of seven Senvion MM92 wind turbines with a total capacity of 14.35 MW. Commissioning is scheduled for fall 2014.
The realization of these first projects in North America is an important milestone for the wpd group. The finance consortium and wpd have also agreed to cooperate on further projects in Ontario. Through 2016 wpd is planning to construct another four developments in Canada with a total capacity of more than 90 MW, including one project with a potential of up to 60 MW.
wpd is a developer and operator of on- and offshore wind farms, at present being active in 18 countries worldwide. The head office is located in Germany. The wpd group has already implemented wind power projects with some 1,600 turbines and an output of 2.8 GW. The affiliate company, wpd Canada Corporation, located in Mississauga/Ontario, has a project pipeline of 230 MW in Canada. The international onshore wind activities of wpd in Europe (excluding Germany) and Canada are pooled in the wpd europe GmbH. The Munich utility company Stadtwerke München (SWM) holds a 33 percent share in wpd europe GmbH. (Link: www.wpd.de)
About KfW IPEX-Bank
Within the KfW Group, KfW IPEX-Bank is responsible for international project and export finance. Its function of providing financing to boost the German and European economy is derived from the legal mandate assigned to KfW. It offers medium- and long-term financing to support key export industries, to develop economic and social infrastructure and to fund environmental and climate protection projects. KfW IPEX-Bank operates as a legally independent group subsidiary and plays a major role in fulfilling KfW's promotional mission. It is represented in the most important economic and financial centres across the globe. (Link: www.kfw-ipex-bank.de)
About Landesbank Hessen-Thüringen Girozentrale
For its corporate customers and public institutions, Helaba offers a wide variety of services. Since the end of the 1990s, it has been supporting investors and project developers in the structuring of tailor-made financing in the field of renewable energies – photovoltaics, solar thermal technology, wind energy and water power. Today, renewables have been firmly established as an area of constant growth for Helaba. (Link: www.helaba.de)