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KfW Joins SEB to Fund 84.6-Megawatt Wind Farm Near Arctic Circle

KfW Group of Germany and Stockholm-based Skandinaviska Enskilda Banken AB will help finance a 84.6-megawatt wind farm in Sweden near the Arctic Circle.

The 84.5 million-euro ($112 million) loan for the Skogberget project will be split equally between the two banks, KfW said today in an e-mailed statement. The wind farm will comprise 36 turbines made by Germany’s Enercon GmbH, it said.

The Skogberget project is part of Svevind’s Markbygden venture, which will expand to 4,000 megawatts of capacity by 2021 to become the largest contiguous wind farm in Europe, according to KfW.

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