ANNOUNCEMENT 11 Dec 2018

In December 2018, the KfW IPEX-Bank announced providing financing for the SeaMade offshore wind farms project located in the Belgian North Sea.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

KfW IPEX-Bank, KfW IPEX-Bank finances SeaMade offshore project in Belgium, press release of 11 December 2018: https://www.kfw-ipex-bank.de/Presse/News/News-Details_499840-2.html

Inception date: 11 Dec 2018 | Removal date: open ended
Still in force

Trade finance

On 11 December 2018, the KfW IPEX-Bank announced providing debt capital for the Belgium SeaMade offshore wind farm project. The financial support has a total value of EUR 160 million (USD 181 million). 

The SeaMade project consists of two wind farms respectively Mermaid with a maximum generation capacity MW 235 MW and Seastar with a maximum generation capacity 252 MW. The wind farms are developed and constructed by the Otary group. The Otary group consists of eight Belgium shareholders all active in the offshore wind power sector. In this context, "58 Siemens Gamesa Renewable Energy SWT-8.0.167 wind turbines" will be utilised for the wind farms.

Apart from KfW, the European Investment Bank and the Belgium authorities have respectively supported the project, see related state acts.

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

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