HSH Nordbank Plans Further Expansion of Its Renewables Business in 2013

After last year proved to be above expectations for HSH Nordbank’s Renewables business division, the bank wants to build on this success in 2013 and further expand the business.

HSH Nordbank is one of Germany’s leading financiers in this segment. “We have supported about 20 new projects in the past year. The volume of our new business in the past year is around 800 million euros above our expectations,” Patrick Miljes, Head of Management Board said.

For 2013, the bank is planning to finance a new business in the amount of 800 million euros, thus remaining at a consistently high level as last year. The bank’s focus is on the proven business areas: wind (70%) and solar (30%).

While the bank mainly financed wind power projects in Germany, it focused both on wind and solar parks in France . The bank is active in Northern Italy, Belgium, Holland, and also increasingly in the UK, Finland, Sweden and Denmark. The portfolio currently includes more than 180 projects with a total volume of more than three billion euros.

HSH Nordbank is optimistic with regard to the further development of wind energy in Germany. “Despite restrained expansion in the offshore sector, Germany can quite maintain its top position in the wind market in the European ranking,” says Renewable Energy director Lars Quandel.

[mappress]
April 5, 2013