KfW IPEX-Bank finances two Photovoltaic Facilities in Spain / Contribution to extension of Renewable Energies

Frankfurt am Main (ots) - KfW IPEX-Bank as Mandated Lead Arranger
and Sole Underwriter closed the project finance for the San Clemente
and Villanueva de la Jara photovoltaic facilities in Castilla-La
Mancha/Spain in August. Both parks with a capacity of 10.6 MWp
together and a total investment cost of EUR 68.5 million will be
completed these days and so benefit of the Spanish PV feed in tariff
applicable to plants that are operational and registered by September
28th, 2008. KfW IPEX-Bank provided a financing package including a
EUR 51.3 million long term loan and a equity bridge loan.

Financings of Renewable Energy Projects are inherent part of KfW
IPEX-Bank's supply and a contribution to environment and climate
protection. 75% of the capacity of the two plants is covered by thin
film cadmium-tellurid modules provided by First Solar (Phoenix, USA),
with the remainder being polycrystalline modules supplied by Phoenix
Solar (Sulzemoos, Germany). Phoenix Solar also acted as the EPC
contractor (engineering, procurement and construction). KGAL (KG
Allgemeine Leasing GmbH & Co. Grünwald, Germany) will place the
equity with private investors via a limited partnership fund
structure.

In Spain the share of renewable energies (excluding water) in
total installed capacity amounts to about 25%. Photovoltaic plants
contribute around 9% to the renewable energy portfolio. With an
estimated 1,700 MW as of end September, Spain is the second PV market
in Europe and worldwide (Germany has about 4,000 MW of PV installed
capacity), and the one with the fastest growth in terms of new
installations in 2008, namely 1,000 MW.

About KfW IPEX-Bank GmbH

Within KfW Bankengruppe KfW IPEX-Bank GmbH provides project and
corporate financing as well as trade and export financing
domestically and abroad. Worldwide it conducts all market activities
of KfW Bankengruppe that are carried out on commercial terms. KfW
IPEX-Bank GmbH has been operating as a legally independent subsidiary
since 1 January 2008 and contributes significantly to the promotional
mission of KfW Bankengruppe. It has approx. 470 employees (as of June
2008) and is represented in the key economic and financial centres
throughout the globe.

Originaltext: KfW-IPEX-Bank
digital press kits: http://www.presseportal.de/pm/69662
press kits via RSS: http://www.presseportal.de/rss/pm_69662.rss2

For further information please contact:
Dela Strumpf
Tel.: 069 7431-2984
E-Mail: dela.strumpf@kfw.de

KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
E-Mail: info@kfw-ipex-bank.de, Internet: www.kfw-ipex-bank.de