PFI Europe Deal of the Year, IJGlobal Offshore Wind Deal of the Year, Proximo Europe Multisourcing Deal of the Year

KfW IPEX-Bank is playing a leading role as part of a club of 30 commercial banks, international financial institutions and export credit agencies in the financing of the Polish offshore wind farms Baltyk II and Baltyk III (each 740 MW).

As Mandated Lead Arranger, KfW IPEX-Bank is one of the largest lenders of the two financings, each with a value of around EUR 3 billion, and acts as Euler Hermes agent for a total of 20 banks in the club. The project sponsors are Equinor, Norway’s leading multinational energy company, and Poland’s largest private energy group Polenergia.

Baltyk II is located about 37 kilometres, Baltyk III about 22 kilometres off the Polish coast. The two wind farms are scheduled to go into operation in 2028 and together will produce electricity for around 2 million households.

A large number of European companies are involved in the construction of the wind farms with supplies and services. Each wind farm will be equipped with 50 state-of-the-art Siemens turbines of the SG 14-236 DD type.

Proximo Europe Infrastructure Deal of the Year

Vantage Data Centers is building a data centre near Frankfurt am Main. KfW IPEX-Bank acted as underwriter and bookrunner together with two international banks. The overall syndication in the European project finance market has been extremely successful and has recently been completed.

Vantage Data Centers has a comprehensive sustainability concept for their data centers and the project features a state-of-the art energy efficiency with an annual PUE of ~1.2. Water consumption at the site is limited by the fact that no water is evaporated in the cooling process. In addition, the data centre is planned to be operated using 100% renewable energy, and connections are in place to allow district heating operators to make further use of the waste heat.

IJGlobal Carbon Transport Deal of the Year

KfW IPEX-Bank is contributing GBP 100 million to the CCS project “Liverpool Bay CCS Carbon Dioxide Transport and Storage (T&S)” in the United Kingdom. The multi-billion-pound project developed by Eni supports the HyNet industrial cluster in North West England and North Wales, helping to reduce emissions from this energy-intensive industrial region.

Over its 25-year lifetime, the Liverpool Bay CCS project will serve as the backbone of the HyNet cluster, transporting carbon dioxide from capture facilities in the north-west of England and north Wales through new and repurposed infrastructure to secure and permanent storage in Eni’s depleted natural gas reservoirs located under the seabed in Liverpool Bay. Proven oil and gas technologies will be used for this purpose and around 149 kilometres of existing on- and offshore pipelines will be converted.