KfW Committed $30 Billion to Climate, Environment in 2011
KfW, Germany’s state-owned development bank, committed 22.8 billion euros ($30 billion) to climate and environment projects last year, almost a third of all its lending, and said it will increase this share in 2012.
The bank provided about 32 percent of all its funding to these areas, compared with 31 percent in the previous year, Wolfram Schweickhardt, a KfW spokesman, said today by e-mail. In 2010, such lending amounted to 25.3 billion euros, he said.
KfW, based in Frankfurt, was the sixth-largest funder of renewable energy assets worldwide last year, according to Bloomberg New Energy Finance. It provided funding for two of the 10 largest deals of the year, both offshore wind parks, data compiled by the research firm shows.
Funding for climate and environment last year comprised 10.1 billion euros for energy efficiency, 9.4 billion euros for renewable energy and 3.3 billion for other areas such as waste control, Schweickhardt said.
KfW is the largest lender to renewable projects in Germany, Europe’s biggest market for clean energy. More than 41 percent of all renewable energy investment in the country last year was funded by the bank, according to the spokesman.
Demand for loans for solar projects there dropped during 2011 due to reduced subsidies as commitments for energy efficiency increased, KfW said today in an e-mailed statement.
The bank also supports projects in countries such as France and India. It bought a stake in France’s largest solar plant last month and agreed to loan 250 million euros to build India’s biggest solar park in August.
To contact the reporter on this story: Marc Roca in London at mroca6@bloomberg.net
To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net
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