NIB finances Ringkjøbing Landbobank’s wind power programme in Jutland, Denmark

The Nordic Investment Bank (NIB) is financing a loan programme with Ringkjøbing Landbobank totalling DKK 150 million (EUR 20 million) for financing windmill investments in Jutland on the western coast of Denmark. The term of the loan is 10 years.

The western coast of Jutland is sparsely populated and has favourable conditions for wind energy production. New wind power parks can be built taking into consideration all environmental, landscape and regulatory issues.

‘Financing is increasingly limited to younger and smaller renewable energy companies. Financing wind farm projects through Ringkjøbing Landbobank is a good way to reach relatively small projects and counterparties,’ says NIB President and CEO, Johnny Åkerholm.

NIB’s loan will help finance some of the approximately 160 wind turbines to be distributed to the 28 new wind farm plants included in the municipality of Ringkøbing-Skjern’s wind power plan. The loan is allocated under NIB’s EUR 2 billion CLEERE facility, a special facility for climate-change-related initiatives.

Ringkjøbing Landbobank is a regional bank having its main operations in central and western Jutland. Wind turbines financing is an important niche for the bank, which has more than 20 years experience in financing wind power projects.

The Nordic Investment Bank is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating, AAA/aaa, with the leading rating agencies Standard & Poor’s and Moody’s.