European Investment Bank and Deutsche Kreditbank Strengthen 25-Year Collaboration with Renewables Initiative

European Investment Bank and Deutsche Kreditbank Strengthen 25-Year Collaboration with Renewables Initiative

(IN BRIEF) The European Investment Bank (EIB) and Deutsche Kreditbank (DKB) recently celebrated their 25-year partnership by signing a new agreement at DKB’s Berlin headquarters, aimed at supporting renewable energy projects for Small and Medium Enterprises (SMEs) in Germany. Under this agreement, EIB will provide a €250 million Multiple Beneficiary Intermediated Loan (MBIL) to DKB, which plans to mobilize €600 million in investments. Half of this funding will go towards wind and solar energy projects in collaboration with SMEs, while the other half will be allocated to municipal infrastructure initiatives. This partnership builds upon a prior collaboration announced in March, marking EIB and DKB’s joint efforts to support renewable energy projects for SMEs. EIB Vice President Nicola Beer highlighted the significance of this initiative in advancing the EU’s goal of achieving net-zero emissions by 2045, while DKB CEO Stefan Unterlandstättner emphasized the bank’s longstanding commitment to financing renewable energy projects and accelerating Germany’s transition to green energy generation.

(PRESS RELEASE) LUXEMBOURG, 7-Jun-2024— /EuropaWire/ — In a recent event at Deutsche Kreditbank’s headquarters in Berlin, the European Investment Bank (EIB) and Deutsche Kreditbank (DKB) celebrated their nearly 25-year partnership with the signing of a new agreement aimed at bolstering renewable energy projects for Small and Medium Enterprises (SMEs) in Germany.

The agreement entails the EIB providing a Multiple Beneficiary Intermediated Loan (MBIL) of €250 million to DKB. Leveraging this support, DKB, a part of the BayernLB Group, intends to mobilize investments totaling €600 million. Half of this fund will be directed towards collaborative ventures with SMEs in wind and solar energy projects, while the other half will be allocated to municipal infrastructure initiatives such as schools, public buildings, and public transport enhancements.

This endeavor marks the continuation of a prior collaboration announced in March, which marked the first joint initiative between EIB and DKB focusing specifically on renewable energy projects for SMEs in Germany.

Over the course of their longstanding partnership, EIB and DKB have financed numerous projects spanning various sectors including infrastructure, energy, and transportation. Notable among these is the financing of 143 electric buses for Verkehrsbetriebe Hamburg-Holstein GmbH, slated to commence operations by year’s end.

Commenting on the collaboration, EIB Vice President Nicola Beer, responsible for overseeing EIB financing in Germany, expressed satisfaction with supporting DKB’s lending program aimed at municipal infrastructure and renewable energy projects, particularly those benefiting small and medium-sized enterprises. Beer emphasized the significance of such initiatives in advancing the EU’s objective of achieving net-zero emissions by 2045, gradually improving the lives of Europeans.

DKB’s Chief Executive Officer, Stefan Unterlandstättner, highlighted DKB’s three-decade-long commitment to financing renewable energy projects, positioning the bank as a key player in Germany’s energy transition. Unterlandstättner underscored DKB’s enthusiasm for collaborating with EIB to support customers and expedite the shift towards green energy generation in Germany, particularly through the expansion of wind and solar power infrastructure.

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SOURCE: European Investment Bank