By Kari Williamson
KfW estimates that an additional investment of about €250bn will be required until 2020 to achieve the transformation of the German energy supply system.
In 2010, KfW committed about €23bn for energy projects in Germany and abroad – financing about 80% of all newly constructed wind turbines in Germany and 40% of solar photovoltaic (PV) systems in the period
"With the planned improvement of the financing offers for our entire customer spectrum we are responding to the immense investment need to achieve the energy turnaround. Already today we are one of the largest financiers in the energy sector worldwide," comments Dr Ulrich Schröder, CEO of KfW Bankengruppe.
Increasing renewable energy loans
Starting 1 January 2012, the maximum loan amount for the KfW Renewable Energies Programme - Standard will be more than doubled to €25 million. One of the goals of the programme change is to promote larger onshore wind projects.
In addition to energy efficiency loan programmes, KfW is establishing the programme Energy efficient municipal supply'with particularly low-interest rates in the first quarter of 2012, aimed at expanding electricity networks, storage capacities and decentralised high-efficient conventional power plants.