Storm is one of the most important onshore wind developers in Flanders. KBC successfully joined Storm in a framework agreement for the financing of its onshore wind projects.
Long term cooperation with wind developer Storm
Storm - one of the most important onshore wind developers in Flanders - contacted KBC some years ago. Storm counts TINC, PMF Infrastructure Fund, Clean Energy Invest, ParticipatieMaatschappij Vlaanderen and Black Swan among their stakeholders.
Early 2014, KBC joined Storm in a framework agreement for the financing of five onshore wind projects. Because of this successful track record, KBC received Storm’s mandate to finance another four new onshore wind farms in October 2015. By providing such credits KBC actively takes up its social responsibility.
Our tailored solutions allow Storm to finance relatively small projects/SPVs on a non-recourse basis. All the while taking cost considerations into account. Moreover it allows Storm to manage development and construction according to their own internal processes. Additionally, the financing and tailor-made interest rate hedging allows for residents to easily participate in the project even after financial close has taken place.
“The framework agreement with KBC allows us to finance and realize our projects efficiently. Our long-term relationship has led to great mutual trust. That trust, coupled with KBC’s extensive business and sector knowledge, makes us very satisfied with our partnership with KBC.” - Kristof Moens, CFO of Storm