(Bloomberg, London, 23 May 2012) PFA Pension, Denmark’s largest pension fund, and the Eksport Kredit Fonden boosted its loan programs to 55 billion kroner (US$9.3 billion) to help Danish groups including wind companies such as Vestas Wind Systems… PFA Pension is providing 10 billion kroner in loans to foreign companies to fund orders at Danish companies such as Vestas, said EKF. EKF will arrange the loan and guarantee the money is paid back… Export credit agencies are taking a bigger share of lending to the renewable energy industry as the financial crisis erodes banks’ ability to make the longer-term loans that projects such as offshore wind farms require… “We are creating alternatives to the banks for funding projects,” said Anette Eberhard, head of EKF. Banks, also facing the latest round of Basel rules, have less appetite for risk and are ‘pretty reluctant’ to lend beyond five years”, she said.
PFA Pension, EKF Boost Export Finance to Help Vestas, Renewables
