Denmark provides world’s largest export credit agency wind financing

(Global Trade Review, London, 28 September 2018) Denmark’s EKF has signed an £800mn guarantee for Hornsea 1 in what it says is the largest wind financing that any public export credit agency has ever provided. Located off the coast of Yorkshire, UK, Hornsea 1 is currently being constructed by Danish wind farm developer Orsted, formerly Dong Energy. According to EKF, it will finance suppliers such as Siemens Gamesa Renewable Energy, but also a “vast number of sub-suppliers” from Denmark. EKF has also guaranteed about EUR 100 million of the EUR 210 million European Investment Bank (EIB) facility for the Euro 700 million Northwester 2 offshore wind farm in Belgian waters.