About EKF

PFA millions secure export of wind turbines

Through EKF, pension fund PFA makes DKK 240 million available for an Irish purchase of wind turbines. The money will be used directly for purchase of wind turbines from Vestas for the benefit of Danish export and growth.
The Irish state-owned energy company Bord Gáis Éireann is building a number of wind farms.

Vestas supplies the  turbines to the 24 MW wind farm Lisheen II, which is be placed near Moyne in Tipperary in central Ireland. The project is a considerable extension to the existing wind farm.
 
PFA makes approximately DKK 240 million available to the project and the money will be used to purchase turbines from Vestas. In return, EKF will provide a guarantee for the money. In this way, PFA will not run any risk with regard to the project but will be paid for making the money available. The Royal Bank of Scotland (RBS) is the agent for the loan and handles the ongoing contact and administration.
 
“PFA’s money is put to work for Danish export and at the same time it is a good investment. In future, we look forward to contribute to other attractive projects which will increase Danish exports for the benefit of Danish growth and employment,” says Poul Kobberup, Managing Director of PFA Asset Management.
PFA has earmarked a total of DKK 10 billion for financing Danish export businesses for which EKF provides a guarantee. As a starting point, PFA and EKF expect that the loans will amount to minimum DKK 250 million and have long maturities. This is for the purpose of extensive projects such as wind farms etc.
 
“The cooperation between EKF and PFA is a classic example of how the public and private investors can join forces to boost Danish exports. The cooperation has attracted massive international attention, but first and foremost it helps secure Danish jobs," says Anette Eberhard, CEO of EKF.
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