KfW co-finances the Butendiek offshore wind farm

Frankfurt (ots) -

- KfW Bankengruppe's total commitment volume of EUR 239 million
- Third financing under the KfW Offshore Wind Energy Programme
- KfW IPEX-Bank acting as mandated lead arranger of the bank
consortium

KfW and its subsidiary KfW IPEX-Bank, which is specialised in
project and export finance, are co-financing the Butendiek offshore
wind farm with a total of EUR 239 million. It is the third financing
under the Offshore Wind Energy Programme, which was launched in 2011.
KfW IPEX-Bank as a commercial bank is providing co-financing in a
separate tranche that, like KfW, it extends under market conditions.

The Butendiek wind farm is being installed in the German part of
the North Sea, some 32 km west of the island of Sylt. With a total
capacity of 288 MW, the wind farm will be composed of 80 Siemens SWT
3.6-120 wind turbines.

KfW is participating under the framework of a banking consortium
comprised of twelve institutes including the European Investment Bank
(EIB) and the Danish credit insurance company Eksport Kredit Fonden
(EKF). In its role as mandated lead arranger, KfW IPEX-Bank is
arranging the financing together with the Bremer Landesbank and
Unicredit. The overall investment volume for the Butendiek wind farm
amounts to EUR 1.4 billion. In total, the participating banks have
provided EUR 937 million in debt capital. In this way, KfW is making
a decisive contribution to finance this project.

Dr Ulrich Schröder, Chief Executive Officer of KfW Bankengruppe,
said: "The conclusion of this financing sends a clear signal to the
market: Things are looking up. Several factors were decisive for this
project: The legislative initiative of the German Federal Government
to regulate the liability issues provides the necessary security. It
has been shown that well thought-out projects of experienced partners
still can be placed on the market and can be financed by involving
promotional institutes and export credit agencies. The substantial
commitment of KfW also highlights that the Offshore Wind Energy
Programme as a central building block of the financing scheme and KfW
IPEX-Bank's competence in structuring complex project finance are key
factors to the success and realisation of such ambitious projects."

Pressekontakt:
KfW, Palmengartenstr. 5 - 9, 60325 Frankfurt
Kommunikation (KOM) Charis Poethig
Tel. +49 (0)69 7431 4683, Fax: +49 (0)69 7431 3266,
E-Mail: Charis.Poethig@kfw.de, Internet: www.kfw.de