EIB and DKB Partner €250M Loan to Support Renewable Energy Projects in Germany

As part of the project, the EIB will provide a Multiple Beneficiary Intermediated Loan (MBIL) of €250 million to DKB.


Devdiscourse News Desk | Updated: 06-06-2024 22:49 IST | Created: 06-06-2024 22:49 IST
EIB and DKB Partner €250M Loan to Support Renewable Energy Projects in Germany
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The European Investment Bank (EIB) and Deutsche Kreditbank (DKB) have celebrated nearly 25 years of collaboration by signing a second cooperation agreement at DKB’s headquarters in Berlin. This new agreement aims to support renewable energy projects of Small and Medium Enterprises (SMEs) in Germany.

As part of the project, the EIB will provide a Multiple Beneficiary Intermediated Loan (MBIL) of €250 million to DKB. This loan will enable DKB, which is part of the BayernLB Group, to mobilize a total of €600 million in investments. Half of this investment will be directed towards wind and solar energy projects in collaboration with SMEs, while the other half will fund municipal infrastructure projects such as schools, public buildings, and public transport.

This initiative follows a similar project launched in March by the EIB and DKB, which was the first joint effort focusing specifically on supporting renewable energy projects for SMEs. Over the years, the partnership between EIB and DKB has financed multiple projects in sectors like infrastructure, energy, and transport, including the funding of 143 electric buses for the public transport company Verkehrsbetriebe Hamburg-Holstein GmbH, which will begin operating by the end of this year.

Nicola Beer, EIB Vice President overseeing financing in Germany, stated, “We are glad to support DKB’s lending programme that targets municipal infrastructure and renewable energy projects, especially those of small and medium companies. This will help to decarbonise the energy sector to reach the EU goal of net zero by 2045, making the lives of Europeans better step by step.”

Stefan Unterlandstättner, DKB Chief Executive Officer, remarked, “DKB has been financing renewable energy projects for more than 30 years and is one of the leading financiers of the energy transition in Germany. We are pleased to be working closely with the EIB to support our customers and accelerate efforts to switch to green energy generation in Germany through the expansion of wind and solar power supply.”

The renewed collaboration between EIB and DKB underscores their commitment to advancing renewable energy and sustainable infrastructure projects, contributing significantly to Germany's energy transition and the EU's ambitious climate goals.  4o

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