The current financing is for the conversion and expansion of hydrogen infrastructure and the development of biogas infrastructure. HKCF has advised its long-standing client Nowega on the long-term financing contracts for this investment project.
The hydrogen infrastructure is to be developed essentially by converting existing gas pipelines – the first gas pipelines have already been successfully converted in preparation for the future transport of hydrogen. KfW IPEX-Bank had already provided Nowega with a loan of €40 million for this purpose in 2020.
Aida Welker, Member of the Management Board of KfW IPEX-Bank, said: "We are very pleased to be able to support our customer Nowega once again. Maintaining and expanding the German and European energy infrastructure is a key concern of our bank, and our financing for the hydrogen core network contributes to the transformation of energy supply as well as to security of supply."
