Three key benefits
- The support from DNV enabled NORD/LB and EKF to identify and mitigate potential technical, social and environmental risks ensuring a successful transaction
- DNV's unrivalled expertise in onshore wind farm development support and technical due diligence in Poland provided NORD/LB and EKF with the required country-specific technical knowledge in the Polish wind market
- The construction of the wind farms is monitored by DNV for the lender to ensure implementation of the wind farm in line with expectations
About NORD/LB and EKF
NORD/LB Norddeutsche Landesbank is one of the leading German commercial banks. The core business segments include business with corporate customers, private and commercial customers including private banking as well as special finance in the energy and infrastructure sector, aircraft finance and commercial real estate finance. More information at NORD/LB.
EKF Danish Export Credit Agency is an independent public company owned by the Danish state with long-standing experience as a partner in financing wind projects. More information at ekf.dk.
The customer challenge
NORD/LB and EKF had agreed to financing five wind farms in Poland for European Energy, amounting to EUR 53.5 million and covering construction and operational phases. However, to be able to successfully reach a positive financing decision, it was crucial to engage an experienced advisor with country-specific onshore wind expertise.
Providing technical, social and environmental due diligence with a local project engineering team supported by an international expert pool, DNV was able to thoroughly assess the technical and environmental viability of the wind farms and recommend appropriate measures to mitigate potential risks; lending NORD/LB and EKF essential support in achieving a successful transaction.
This project also marks another milestone in the continued cooperation between NORD/LB and DNV.