ANNOUNCEMENT 08 Feb 2019

In February 2019, the KfW IPEX-Bank announced providing financing for the company Volkswagen Kraftwerk GmbH's purchase and assembly of Enercon four wind turbines at the MAN Truck & Bus AG site in Germany.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

KfW IPEX-Bank, KfW IPEX-Bank finances wind turbines for the Volkswagen Group, press release of 8 February 2019: https://www.kfw-ipex-bank.de/Presse/News/News-Details_506816-2.html

Inception date: 08 Feb 2019 | Removal date: open ended
Still in force

State loan

On 8 February 2019, the KfW IPEX-Bank announced providing financing for the Germany company Volkswagen Kraftwerk GmbH's purchase and assembly of four wind turbines. The turbines are manufactured by the German company Enercon and will be used at the MAN Truck & Bus AG site in Germany. The financial support has a total value of EUR 19.5 million (USD 22 million).

In this context the KfW stated: "After financing the wind park at Volkswagen's Emden plant in 2014, this is the second time KfW IPEX-Bank has invested in the vehicle manufacturer's new approach to its energy supply. In addition to converting its own power plants from coal to gas, the Volkswagen Group is also increasingly operating plants that sustainably generate environmentally friendly power in line with its environmental objectives."

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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