KfW, Lloyds Bank finance 14MW wind farm in UK
KfW IPEX-Bank, through its London branch, and Lloyds Bank Wholesale Banking & Markets have agreed finance for RES's 14MW wind farm in England.
The power project will use seven units of V90 2MW wind turbines of the Danish manufacturer Vestas.
The wind farm at Grange Farm in the South Holland District of Lincolnshire is expected to be fully commissioned by late 2013.
KfW IPEX-Bank provides 42.5% and Lloyds Bank provides 57.5% of the funding for the Grange wind farm.
Upon beginning operations, the Grange wind farm will generate clean, green electricity equivalent to the needs of around 10,000 homes.
KfW IPEX-Bank member management board Markus Scheer said by lending into renewable infrastructure projects the bank is contributing to meet carbon reduction commitments and safeguard future energy supplies.
"We are therefore very happy to be part of a project that is in line with European policies to increase the share of renewables in the energy mix," Scheer said.