Germany's KfW IPEX-Bank has announced that it is providing a long-term project financing loan of up to CAD 61.7 million to a wind project managed by the Canadian independent renewable power producer Innergex Renewable Energy Inc. jointly with the regional country municipality Rivière-du-Loup.

KfW IPEX-Bank is helping in this case the supplier of the wind turbines, REpower, which is a German manufacturer of wind energy systems based in Hamburg.

Germany's export and project finance bank offers medium and long-term financing to support key export industries, to develop economic and social infrastructure and to fund environmental and climate protection projects.

Plans call for the wind farm to be erected by the end of this year. When commercial operation begins 12 REpower MM92 wind turbines with a total capacity of 24.6 MW will supply several thousand Canadian households with green energy every year. In addition to supplying the turbines REpower is also in charge of commissioning and maintenance of the systems for the first ten years. Offtaker is the energy supply company Hydro-Québec.

Source: KfW Group