“Focus on international business”
Inka Klinger Head of Project Finance Department
How did the bank do in 2023 in terms of Project Finance? Inka Klinger We concluded € 1 billion in new business in this segment. At the end of 2023, our portfolio amounted to € 3.8 billion, split roughly equally between the Renewable Energy and Infrastructure segments.
Where did the new business primarily occur in 2023? IK We were particularly active in the Infrastructure and Energy Transition segments. Among other things, we provided financing for data centers and liquid storage facilities, as well as fiber optic networks, an area in which we have a great deal of experience. We were one of the first banks to finance fiber optic projects. In recent years, we’ve also provided financing for waste-to-energy projects and the development of district heating networks. In which countries was the bank active? IK We focused on international business. Our market is Central and Western Europe, including the UK and Scandinavia. We also concluded a transaction in the US, where we’d like to be a little more active this year. The German market didn’t play a major role in 2023. We’re consciously diversifying our portfolio, something that applies to asset classes, financing products, maturities and countries.
What are the prospects for 2024? IK Nothing will change in terms of our fundamental strategic direction. However, we’re working internally on a few topics that could become important in the future, such as storing energy in large batteries. As an energy source, renewable energies fluctuate, so it’s important to be able to store energy if the electricity supply is to remain stable. We’re also looking into the production and distribution of hydrogen. This could lead to interesting opportunities and we want to be well prepared for developments here.