KfW Ipex-Bank backs Croatian wind farm

KfW Ipex-Bank backs Croatian wind farm

KfW Ipex-Bank has agreed a €35mn (US$48mn) 12.5-year bilateral loan with Wpd Europe for the construction of the Ponikve wind park in Dubrovnik, Croatia.

European energy plant developer Wpd group will guarantee the construction work and build the infrastructure for the wind farm, which comprises of 16 wind turbines with hub heights of up to 85 metres.

In line with the project’s environmental objectives, the farm will have a capacity of 34 megawatts and will supply 60,000 households with green power from 2013.

Meanwhile, German wind turbine manufacturer Enercon will supply the power and conduct the operation and maintenance of the Ponikve wind farm, while Croatia’s state transmission operator Hrote will purchase the energy.

Since 2007, wind power in Croatia is paid for based on a tariff system, similar to the German renewable energy law − Erneuerbare Energien Gesetz (EEG).