25.03.2024
Source: Energy & Management Powernews
The European Investment Bank (EIB) is providing Deutsche Kreditbank (DKB) with a loan of 100 million euros to promote renewable energy plants.
The EIB wants to promote onshore wind turbines and photovoltaic projects in Germany via DKB. Through an EIB loan of 100 million euros, DKB wants to provide at least 200 million euros for companies "that implement small and medium-sized green energy projects with costs of up to 50 million euros", according to a statement.
For the first time, the EIB is supporting a DKB program that is exclusively focused on renewable energies. Half of the EIB loan will be used for photovoltaic and half for onshore wind power projects in Germany. The money should be enough to build renewable plants with a capacity of around 171 MW, which can generate around 350 million kWh of green electricity per year.
The EIB loan will enable low-interest, long-term financing for small and medium-sized onshore projects. In addition, project owners can better adapt their financing structure to the economic life of the plants, as the EIB funds have long maturities.
Berlin-based DKB is part of the Bayern-LB Group and offers services for business and private customers. According to CEO Stefan Unterlandstättner, DKB is "the largest financier of the energy transition in Germany". With total assets of 118 billion euros in 2023, it is one of the top 20 banks in Germany and serves around 5.4 million customers.
The EIB is the EU's financing institution, whose shareholders are the member states. It provides funds for investments that contribute to the EU's core objectives.
Author: Stefan Sagmeister
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