KfW IPEX-Bank finances wind farm in the Canadian province of Québec

Frankfurt am Main (ots) -

- Green electricity for more than 10,000 homes
- Export of state-of-the-art technology from Germany: Manufacturer
Enercon to supply wind turbines of the type "E 92" outside
Europe for the first time
- KfW IPEX-Bank provides loan together with institutional
investors

KfW IPEX-Bank is supporting the construction and operation of the
Canadian Vents du Kempt wind farm (VdK). Two institutional investors
- The Manufacturers Life Insurance Company and Caisse de Dépôt et
Placement du Québec - are also involved in the financing. The total
investment volume of the project, which is being carried out by the
Canadian company Eolectric Club, L.P. and Fiera Axium Infrastructure
Canada Limited Partnership, is more than CAD 300 million (approx. EUR
240 million). The loan agreements were signed last week.

Markus Scheer, member of the Management Board of KfW IPEX-Bank,
described the project as forward-looking and commented the successful
financial closing as follows: "VdK is a trend-setting project in two
respects and we, as a bank, are very pleased to support it. For one,
this financing represents one of the first long-term financing
structures offered to a Canadian wind farm that combines both funds
from institutional investors and bank facilities. For another, our
long-standing client Enercon will supply its state-of-the-art E-92
wind turbines for the first time outside Europe."

VdK is being built in the province of Québec in the eastern part
of Canada. With an installed capacity of 101 MW the wind farm is to
supply more than 10,000 regional homes with green energy from the end
of 2014. The German company Enercon of Aurich, one of the world's
leading wind turbine manufacturers, will be responsible for the
erection and commissioning of the turbines and assume their
maintenance for 15 years. It is planned to install altogether 43 wind
turbines of the new-generation Enercon E-92 series with a capacity of
2.35 MW each. The renewable power will be sold to Hydro-Québec, the
provincial electric utility of Québec, which signed a 20-year power
purchase agreement with the project company.

In 2011 KfW IPEX-Bank had already taken a lead role within an
international consortium of banks in the financing of the
construction and operation of the Seigneurie de Beaupré wind farm,
also located in Québec. Here, too, the 126 wind turbines were
supplied by the German manufacturer Enercon.

About KfW IPEX-Bank GmbH

KfW IPEX-Bank GmbH is responsible for international project and
export finance within KfW Bankengruppe. Its function of providing
financing to support the German and European economy is derived from
the legal mandate of KfW Bankengruppe. Its prime focus is on medium
and long-term lending to support the export economy and develop
economic and social infrastructure, and for environmental and climate
protection projects. KfW IPEX-Bank GmbH operates as a legally
independent group subsidiary and plays a major role in fulfilling the
promotional mission of KfW Bankengruppe. It has around 590 employees
and is represented in the key economic and financial centres around
the globe.

Contact:
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:
Thomas.Krick@kfw-ipex-bank.de,
Internet: www.kfw-ipex-bank.de