KfW IPEX-Bank finances thermal energy from waste plant by MVV Energie AG in England
Geschrieben am 16-07-2012 |
Frankfurt am Main (ots) -
- Support of German energy sector: MVV Energie AG from Mannheim as
private partner of local and municipal authorities in England
- German SMEs supply engineering equipment and know-how
- Latest technology ensures low emissions and environmentally
friendly waste recovery with high energy efficiency
- Consortium of KfW IPEX-Bank and Svenska Handelsbanken provides
credit amounting to approximately EUR 200 million
Together with the Swedish Svenska Handelsbanken, KfW IPEX-Bank is
providing finance to enable the construction of a thermal waste
recovery plant in Plymouth in southwest England through MVV Energie
AG, an energy company in Mannheim, Germany. The project is a public
private sector partnership. The contracting authority is the South
West Devon Waste Partnership (SWDWP), which comprises three regional
authorities that came together specifically for the project. The
SWDWP contracted with MVV Umwelt from Mannheim in Germany, a
subsidiary of MVV Energie AG in Mannheim, to undertake the planning,
building and operation of the new facility for a period of 25 years.
Essential components of the plant engineering equipment also come
from Germany: Baumgarte Boiler Systems from Duisburg is supplying the
boiler, Stuttgarter LAB the flue gas cleaning equipment, the Hamburg
service provider Imtech is supplying the energy and building
technology and SAR Electronic from Landshut the industrial and
process automation.
"In order for the United Kingdom to achieve the long-term EU
environmental goals, it is vital to make more investments in the
waste management and recycling sector - a market with great potential
for specialised German firms, which we support as a bank through our
international business. For MVV Energie AG and the SME suppliers the
project serves as an important reference point for further
activities," said Markus Scheer, member of the Management Board of
KfW IPEX-Bank. "With the new plant in Plymouth," added Dr Georg
Müller, Chairman of the Board of MVV Energie AG, "we can profitably
apply our years of experience and our internationally valued
expertise in environmentally friendly waste recovery in the British
market." "We are pleased that we could contribute with our
structuring know-how to this complex transaction and thereby help
implement a successful project," commented Jürgen Ding, Head of
Svenska Handelsbanken Mannheim branch and responsible for the
project, upon completion.
The total investment costs amount to about EUR 250 million. In
addition to waste disposal and energy recovery, the energy from waste
plant also helps fulfil important EU environmental regulations.
Both banks provide equal shares of the funding, which is partly in
British pounds. The funding amounts to the equivalent of about EUR
200 million and is structured as a purpose-tied and unsecured
corporate loan to MVV Energie AG. The European Investment Bank (EIB)
also plans to provide MVV Energie AG with a long-term investment loan
for the project.
The use of the latest technologies in Plymouth ensures low
emissions with high energy efficiency. Using a combined heat and
power process in the new energy from waste plant, the project company
MVV Umwelt will supply the generated electricity and heat primarily
to a British naval base located in Plymouth. The facility has the
technical nominal capacity to convert 265,000 tonnes of waste into
energy per year.
MVV Energie AG is one of the leading German energy utilities in
the field of electricity, district heating, gas and water, energy
services and environment. The group of companies, which has an annual
turnover of about EUR 3.6 billion and stakes in municipal utilities
throughout Germany, is also active across Europe. MVV Energie AG is
the only publicly listed utility in Germany. KfW IPEX-Bank has
already assisted the MVV Energie Group with several financings. The
most recent transaction underscores the good cooperation between
them.
Pictures of the project are available on the homepage of KfW
IPEX-Bank in the press section under "press material".
About MVV Energie AG
The MVV group is one of the leading and at the same time municipal
and regional anchored energy companies in the German energy market.
Its publicly listed parent company MVV Energie AG is based in
Mannheim. The Group has around 5,900 employees and generated sales of
EUR 3.6 billion in the 2010/11 fiscal year. The growth-driven
cooperation between its subsidiaries with local and regional
operations and its well-balanced overall business portfolio in
electricity, heating energy, gas and water, as well as energy from
waste and energy-related services are key characteristics of the MVV
Energie Group. Renewable energies (onshore wind power and biomass),
district heating, cogeneration, energy efficiency and energy from
waste are essential components of the strategy, which focuses on
generating profitable growth.
About KfW IPEX-Bank GmbH
Within KfW Bankengruppe KfW IPEX-Bank is in charge of
international project and export finance. It is responsible for
providing financing to support the German and European economy, a
task derived from the legal mandate assigned to KfW Bankengruppe. Its
prime focus is on medium and long-term lending to boost the export
economy, develop economic and social infrastructure and support
environmental and climate protection projects. KfW IPEX-Bank operates
as a legally independent group subsidiary and plays a major role in
fulfilling the promotional mission of KfW Bankengruppe. It has 531
employees (as of 31 December 2011) and is represented in the key
economic and financial centres throughout the globe.
About Svenska Handelsbanken AB (publ)
Svenska Handelsbanken was founded in Stockholm in 1871. Today it
is one of the leading banks in the Nordic Region and one of Europe's
most cost effective banks. Svenska Handelsbanken runs a strongly
decentralised business model, with 755 branches in 22 countries
worldwide. With an Aa3 Moody's rating and a core capital ratio of
14.7% (EBA stress test), Svenska Handelsbanken was once again
acclaimed one of the world's strongest banks by news agency Bloomberg
in May 2012. Svenska Handelsbanken has been active in Germany since
1972. With branch offices in Hamburg, Düsseldorf, Essen, Frankfurt,
Mannheim, Stuttgart and Munich it provides highly personalised
service to both corporate and personal customers. Focus by supporting
corporate clients is on cash-management, trade finance, financing,
liquidity and risk-management solutions.
Pressekontakt:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: thomas.krick@kfw.de
Tel. 069 7431-8454, Fax: 069 7431-9409, E-Mail:
info@kfw-ipex-bank.de,
Internet: www.kfw-ipex-bank.de
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