Denmark

Denmark

Correction: Buyer's credit financing Turkish wind farms says credit agency

Denmark's export credit agency, Eksport Kredit Fonden (EKF), says its financing of three wind stations in Turkey is not guaranteed by "soft loans," as reported in Windpower Monthly last month. All three deals are guaranteed by ordinary buyer's credit carrying interest. The loans are provided by Germany's Commerzbank and guaranteed by EKF. The guarantee covers both the commercial and political risk of non-payment, says Stine Colding from EKF. The three loans had durations of ten years for the first two projects and 14 years for the most recent project. "There is no element of concession involved in any of the three projects," adds Colding.

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