Abbreviated form of legal source(s)
KfW Offshore Windparks
Description of support scheme
KfW supports the construction of up to 10 off-shore wind-power-parks in the German coastal areas. Companies can either benefit from a direct loan, a financing package consisting of bank-passed loan and direct loans, and on top of both, a direct loan as a cost overrun facility.
Amount
There are 3 variants of financing:
Direct loan: The KfW provides a direct loan for up to 50% of the project, at maximum EUR 400 million.
Financing package consisting of bank-passed loan and direct loan: The total financing package is up to EUR 700 million. The direct loan from KfW must not surpass the bank-passed loan.
Direct credit as cost overrun facility: This credit is foreseen to cover unforeseen additional costs in the construction phase. For this purpose, a direct loan from KfW can be received in addition to the two before mentioned financing variants. The condition is that at least one commercial bank participates. KfW grant covers max. 50 % of the financing and amounts to max EUR 100 million per project. For all three options, 1/3 own capital is needed.
Addressees
Project corporations planning the construction of eligible offshore wind parks.
Procedure
Applicants can prepare the application via an online tool on the website. Then, they must find a financing partner. The bank administers the KFW loan. Further information can be found on this website:
https://www.kfw.de/inlandsfoerderung/Unternehmen/Energie-und-Umwelt/Förderprodukte/Offshore-Windenergie-(273)/
Competent authority
KfW loans are administered and disbursed by regular banks.