BayernLB

18-Jan-2016

BayernLB finances delivery of 10 wind turbines

Nordex Energy GmbH expands Bergama wind farm by 30 MW

BayernLB is financing the delivery of ten wind turbines for the Bergama wind farm in western Turkey on behalf of Nordex Energy GmbH. The Euler Hermes-backed export financing in the amount of EUR 17.1 million is for a term of 14 years. The delivery will increase the capacity of the wind farm, already one of the largest in Turkey, by 30 MW.

The financing once again underlines BayernLB's position as a major lender to the German economy even beyond its core market of Bavaria. Moreover, it strengthens its business ties with the Nordex Group. The Rostock-based company is one of the world's leading makers of wind turbines. The customer in Turkey is the project company Bergama RES Enerji Üretim A.S. which is owned by Bilgin Enerji Group. This is the fifth wind farm financing that BayernLB has successfully structured for the Bilgin Enerji Group.

BayernLB is "The Bavarian bank for the German economy". It focuses on serving customers. These include Mittelstand companies and large corporates, savings banks and public authorities, the real estate sector and retail customers, who are served primarily by the Deutsche Kreditbank (DKB) subsidiary. It is owned by the Free State of Bavaria and the Bavarian savings banks.