Grid Companies Could Tap German Offshore Wind Park Aid, KfW Says

Power grid companies seeking to connect planned wind parks off the German coast to the mainland may be able to tap an existing 5 billion-euro ($6.68 billion) financing facility in future, KfW Group said.

The German state-owned development lender is considering how it can support the country’s expansion of renewable energy generation, Ulrich Schroeder, KfW’s chief executive officer, said today at a press conference in Frankfurt.

KfW has “room for maneuver” because only 500 million euros to 600 million euros of the aid has been granted, he said. The lender hasn’t discussed the steps that would need to be taken to increase the overall size of the facility with the German government, according to the CEO.

To contact the editor responsible for this story: Nicholas Comfort at ncomfort1@bloomberg.net

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