EKF and Siemens Gamesa celebrate 10GW milestone: This is just the beginning!

For almost 20 years, the trusted partnership between EKF and Siemens Gamesa Renewable Energy has resulted in wind power projects on land and at sea, all over the world. Between us, our projects now add up to a capacity of more than 10 GW –equivalent to 10 million households. And this is just the beginning! Going forward we expect to be able to work together on many new green energy projects both within and outside the wind sector.

Over the last 20 years EKF has become an expert in developing and financing green energy projects around the globe. This is especially the case for the wind sector, where Siemens Gamesa has been crucial in developing this expertise.

Now we celebrate a significant milestone: Together, we have collaborated on wind power plants with a total annual capacity of more than 10 GW. This is equivalent to around 10 million households; or the same as all the households in Cambodia, Puerto Rico, Rwanda, and Denmark combined!

“It’s been an incredible journey over the past 20 years, where each project has brought with it new and valuable knowledge. We are now the world-leading export credit agency on green energy projects, and we are proud to be considered as a role model for other countries trying to navigate the green energy transition. Our close partnership with Siemens Gamesa has been crucial in this process and we look forward to expanding our partnership even further in the coming years,” says Peder Lundquist, acting CEO of EKF.

The projects started out relatively small by today’s standards but quickly grew and today we are backing some of the world’s biggest and most energy effective wind power plants. Between 2003 and 2007 all the projects were more or less 100 MW, but after 2010 the projects gradually grew with the 1.2 GW capacity project in Hornsea, UK taking the top spot!

“Over the years, it’s been incredibly important for us to have EKF as a key strategic partner and business enabler, providing solutions for optimized financial structures for our customer’s projects. Both parties have experienced experts working together to realize our mutual projects, and EKF has always demonstrated strong flexibility, creativity and diligence in our collaboration”, says Philippe Delleville, Global Head of Project & Development Finance solutions at Siemens Gamesa.

Throughout the past 20 years, the working relationship between EKF and Siemens Gamesa has only strengthened, not only at an executive level but also in day-to-day project management, where dedicated specialists on both sides collaborate closely.

We don’t know exactly what energy will look like in the future, but we do know that in order to develop the same level of expertise as we have with wind, we need to be there from the start, at both national and international level

“The working relationship between EKF and SGRE is stronger than ever. This has been facilitated by long-term dedication from both sides to find solutions for the financing issues faced by Siemens Gamesa’s clients in the renewable energy sector. Dedicated team members on both sides combined with a robust track record enables us to constantly come up with better and more innovative solutions,” says Patrick Rosenquist Jakobsen, EKF’s Key account manager for Siemens Gamesa.

Whilst the 10 GW marks a significant milestone for EKF and Siemens Gamesa’s partnership, we prefer to see it as merely the beginning. Over the next couple of years, we expect to see a significant drive towards new types of green energy, and it is crucial that EKF is able to support and back Danish companies, who come up with new and innovative solutions.

“We don’t know exactly what energy will look like in the future, but we do know that in order to develop the same level of expertise as we have with wind, we need to be there from the start, at both national and international level. If not, we risk other countries getting ahead of us,” says Peder Lundquist.

EKF has already started to look into financing the earlier stages of new technology like Power-to-X and carbon capture, and we expect to see this materialize very soon. This is welcomed at Siemens Gamesa where pilot projects are already underway.

“Reaching this 10GW milestone is a testament to the great relationship between EKF and Siemens Gamesa as well as to EKF’s commitment to our industry. EKF has played an important role in making renewable energy accessible around the world, and we look forward to continuing this green transition journey together as also new technologies, such as green hydrogen, come into play,” says Beatriz Puente Ferreras, Global CFO of Siemens Gamesa.

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