ANNOUNCEMENT 22 Dec 2020

In December 2020, the Danish export credit agency Eksport Kredit Fonden (EKF) approved a guarantee to support the Danish company Vestas Wind Systems A/S' in the delivery of the Berrybank 2 wind project.

 

 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Guarantees issued by EKF, 2020:
https://ekf.dk/media/pdflonz2/%C3%A5benhed_nyudstedelse_uk_2020_final.pdf?v=637625436215321558

Bielby blog, article 30 November 2020, Berrybank Stage 2 Wind Farm Project:
https://www.bielby.com.au/berrybank-stage-2-wind-farm-project/

Inception date: 22 Dec 2020 | Removal date: open ended

Trade finance

On 22 December 2020, Denmark’s export credit agency Eksport Kredit Fonden (EKF) signed a guarantee for a corporate loan having a total value of DKK 347 million (approx. USD 57 million) to support the Danish company Vestas Wind Systems A/S in the financing of the Berrybank 2 wind project in Victoria state, Australia, whose purpose is to deliver 107 MW of power, enough to power 82 000 homes. The maturity of the guaranteed loan is of 2 years and 2 months.

Under this project, Vestas Wind Systems A/S is responsible for supplying 26 V136-4.2MW wind turbines. 

Vestas Wind Systems A/S is a provider of wind turbines and wind power plants located in Copenhagen, Denmark. 

The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.

Eksport Kredit Fonden (EKF)

EKF provides financial assistance and guarantees to support Danish companies in the area of exports. While it operates as a financial institution on commercial terms, the Danish state owns EKF.

AFFECTED SECTORS

 

AFFECTED PRODUCTS