KfW IPEX-Bank is playing a significant role in the financing of the Coastal Virginia Offshore Wind Farm project in the United States. Stonepeak, a US infrastructure investor, is acquiring a 50% stake in this wind farm from Dominion Energy. The acquisition's financing is being supported by a consortium of international commercial banks, with KfW IPEX-Bank serving as the Coordinating Lead Arranger.
The Coastal Virginia Offshore Wind Farm, once completed at the end of 2026, will have a total capacity of 2.6 gigawatts and will provide renewable energy to approximately 660,000 households. Supplies for the project are sourced from Germany and Europe, including Siemens Gamesa, which is responsible for delivering and installing 176 wind turbines.
Dr. Velibor Marjanovic, Member of the Management Board of KfW IPEX-Bank, stated: "We are proud to contribute to this pioneering flagship project for the growing renewable energy market in the US." He further emphasized their commitment to advancing global energy transition efforts.