12 September 2016


IFU has signed a EUR 15 million loan agreement with LM Wind Power Turkey AS to finance the construction of a new LM Wind Power blade manufacturing plant in Bergama, Turkey.

LM Wind Power – the world’s leading independent blade supplier – has broken ground for a new manufacturing plant in Bergama, Turkey, which will be the 14th LM Wind Power plant worldwide. Production is expected to start by mid-2017 with an annual capacity of 500 MW. The setup allows for a further expansion up to 2 GW.

– It is a great pleasure to be able to break ground for a new plant here in Bergama and we look forward to supporting the development of the area with the local authorities and business partners, said Ben Malefijt, LM Wind Power VP Industrialization.

From production start, it is expected that the factory will employ around 450 people, which will increase alongside a possible expansion.

– In addition to the obvious geographical and logistical benefits this region presents, there’s a noteworthy local talent pool which can benefit from the opportunities.

– LM Wind Power has an excellent track record for growing and retaining local people from the communities wherever we operate. We expect to do the same here in Bergama, said Ben Malefijt.

IFU finds it important that renewable energy plays a more prominent role in the supply of energy in developing countries and emerging markets. This project is the latest example of an IFU investment promoting sustainable development in close cooperation with Danish companies that hold world-class competencies, technology and products within the sector.

– IFU is pleased once again to assist LM Wind Power’s geographical expansion, which will allow the company to play an even greater role in the renewable energy sector in the region, while at the same time contributing to local development by creating jobs, transferring knowledge and upholding high standards of corporate governance and business conduct, said Klaus Prebensen, Investment Director at IFU.