21 Oct 2019
EUR 10 million
Energy and water
|Date of agreement:||8 Dec 2010|
|Customer:||Ringkjøbing Landbobank A/S|
|Amount in DKK:||DKK 150 million|
|Amount in EUR:||EUR 20.1 million|
|NACE sector / loan type:||Financial intermediation, except insurance and pension|
|Business area:||Financial institutions and SMEs|
This loan contributes to climate change mitigation: 100%
The 10-year-maturity loan totalling DKK 150 million (EUR 20 million) has been provided for the financing of new windmill projects in the Ringkøbing area in Jutland, Denmark. The total cost of the loan programme will amount to a minimum of DKK 300 million.
The Ringkøbing-Skjern municipality on the western coast of Jutland is sparsely populated and has favourable conditions for wind energy production. The region has an ambitious plan for wind power, and approximately 28 new wind power parks, including 160 windmills, are expected to be built during 2009-2012.
Ringkjøbing Landbobank is a regional bank having its main operations in central and western Jutland. Windmill financing is an important niche for the bank, which has more than 20 years experience in financing wind power projects.
The main environmental issue is decreased emissions of CO₂ due to the crowding out of electricity generated from coal. There will be minor negative impacts on the environment during the construction period. Neighbours might be disturbed by the operation of the windmills under certain weather conditions, for example in the form of high noise levels. Negative effects are avoided by placing the windmills at least 500-800 meters away from the nearest house, and operation will stop automatically if noise goes above accepted levels, in order to avoid disturbance. Birds are typically disturbed at first, when the windmills are new, but quickly adapt to their existence and no long-term effects on their behaviour have been noted.