Construction begins on Taiwan's first commercial project of 45 MW

Construction of the first commercial wind station in Taiwan has begun. The project of 25 Enercon 1.8 MW turbines from Germany will be commissioned in October. Of the EUR 67 million cost of the 45 MW development, EUR 47 million is provided by long term loans from Germany's industry bank IKB Deutsche Industriebank and development bank KFW Ipex. The credit risk is covered by local currency cover, provided within the framework of Germany's state Hermes guarantees. This allows for financing to be in Taiwan dollars to protect the local operator company from currency fluctuations. KfW subsidiary DEG, an investment and development company, provided EUR 7.5 million in the form of a loan with "equity character." Bremen-based companies WPD and VWind are the project sponsors.