A new billion kroner fund will boost Danish climate exports
EKF, Denmark’s Export Credit Agency, has been given a decisive role in the government’s ambition to spread Danish climate technology to the rest of the world. DKK 14 billion of the 25 billion allocated in the budget to ‘Denmark’s Green Future Fund’ will be used to finance exports of Danish climate technology via EKF. This is set out in the recently completed agreement on next year’s budget between the government and its supporting parties.
“This is great news for Danish climate exports and for the transition to a green economy. We are ready to start straight away,” says Christian Frigast, Chairman of the Board of Directors at EKF.
In recent years, EKF has experienced high demand for Danish climate technology and the financing that is essential to making green projects a reality. Extremely relevant projects are ready to go, and there is great potential for new ones to be added.
Christian Frigast is very pleased about the trust placed in EKF by the government:
“We are very proud that EKF has been given the green light to do what we are good at, which will help both the climate and Danish businesses. This involves both spreading the technology we already know and test facilities and new technologies in important fields such as energy storage and floating wind turbines,” he says.
And the client will not be the only beneficiary of the new measures, emphasises Kirstine Damkjær, EKF’s CEO. “Danish businesses are leaders in climate technology, sustainable energy and energy and efficiency improvement. It is great to see the government and Parliament clearly supporting Danish businesses’ role in the green transition worldwide. This helps retain and generate jobs in Denmark,” she says.
EKF is the world’s greenest export credit agency
EKF plays an important global role in this field. According to Bloomberg NEF and the US export credit agency USEXIM, EKF financed more sustainable energy than all the other export credit agencies in the OECD put together in 2017 and 2018. A significant proportion of EKF’s loans and guarantees are now issued for wind farms, energy and efficiency improvement technology and other green projects.
EKF has been involved with some of the biggest wind farms in the world and has financed more than 22 GW of wind energy over the years. This is equivalent to the annual power consumption of around 22 million households.