ANNOUNCEMENT 13 Jun 2019

In June 2019, the KfW IPEX-Bank announced providing financing to a wind farm developed and to be operated by the German company wpd AG. The financing additionally supports German exports of wind turbines.

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

KfW IPEX-Bank, KfW IPEX-Bank finances Yunlin offshore wind farm in Taiwan, issued on 13 June 2019: https://www.kfw-ipex-bank.de/Presse/News/News-Details_527488-2.html
wpd AG: http://www.wpd.de/en/wpd/profile/

Inception date: 13 Jun 2019 | Removal date: open ended
Still in force

Trade finance

On 13 June 2019, the KfW IPEX-Bank announced providing financing for the "Yunlin offshore wind farm" construction project. The financial support has a total value of EUR 125 million (approx. USD 141 million). The German company Siemens Gamesa will export 80 offshore wind turbines (turbine type SG 8.0-167 DD) for the wind farm. Notably, the operator and developer of the Yunlin offshore wind farm is the German company wpd AG, see related intervention.

In this context, the KfW stated: "The financing from KfW IPEX-Bank for the wind farm and for other renewable energy projects will contribute significantly to global climate and environmental protection. At the same time, the bank is supporting the export of European technology, thus also safeguarding jobs in Germany and Europe."

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.

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
Inception date: 13 Jun 2019 | Removal date: open ended
Still in force

Financial assistance in foreign market

On 13 June 2019, the KfW IPEX-Bank announced providing financing for the Yunlin offshore wind farm construction project developed and to be operated by the German company wpd AG. The financial support has a total value of EUR 125 million (approx. USD 141 million). 

wpd AG has its headquarters in Bremen Germany and is present in a number of European countries as well as Canada, Chile and Chinese Taipei. The company constructs, manages, develops and operates offshore and onshore wind farms around the world.

Notably, the KfW financing also supports the export of 80 offshore wind turbines (turbine type SG 8.0-167 DD) for the wind farm by the German company Siemens Gamesa, see related intervention.

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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