Famer Engin EKF

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1 Famer Engin EKF

2 SLIDE 2 Denmark s official export credit company 90 years of experience Owned and guaranteed by the Danish State (AAA-rated) Operates on commercial terms

3 SLIDE 3 Guarantee exposure EKF s guarantee exposure USD billion ,83 5,49 7,1 8,65 9,

4 SLIDE : EKF s sectors Manufacturing industry 18% Agricultural and food technology 20% EKF, number of transactions Other 18% Wind energy 11% Oil and gas industry2% Cement 5% Ships and ports 6% Infrastructure and supply 18% Oil and gas industry 7% Infrastructure and supply 7% Ships and ports 13% Agricultural and food technology 4% Cement 16% EKF s guarantee exposure Manufacturing industry Other 4% 1% Wind energy 48%

5 SLIDE 5

6 SLIDE 6 FINANCING FOR THE CUSTOMER My customer is ready to place the order but needs financing With EKF s backing you can offer your customer longterm credit.

7 SLIDE 7 Financing for the customer Buyer credit guarantee Contract Credit Risk Guarantee

8 SLIDE 8 Conditions What is the term? The term of a Buyer Credit Guarantee is up to years in countries defined by the OECD as high-income countries - 10 years in all other countries - 12 years for power plants (all countries) - 18 years for renewable energy and hydro projects (all countries) Conditions The foreign buyer is normally required to pay at least 15% of the order amount in advance. The credit should be granted as a serial loan with principal repayments of equal size plus accrued interest. What does EKF cover? EKF pays out compensation if the Danish company or the bank makes a loss on an export transaction or investment abroad as a result of commercial or political risks. EKF covers up to 95% of the bank s loss, so the bank s deductible is a minimum of 5%.

9 SLIDE 9 Financing Project finance guarantee Investment Contract INVESTORS Loan Risk Guarantee

10 SLIDE 10 Conditions What is the term? In principle, EKF offers risk coverage for up to 14 years. However, risk coverage can be extended for up to 18 years for projects involving renewable energy. Conditions EKF requires that the project is based on a solid and well-conceived business plan. The parties to the project must undergo an impartial due diligence process covering the legal, financial and commercial issues before the project owner and the bank can conclude the final loan agreement. What does EKF cover? EKF typically covers between 30% and 80% of the risk on the loan granted by the bank. This means that the project s bank will be liable for at least 20% of the risk. For climate project financing, EKF covers up to 100%.

11 SLIDE 11 Case Samli wind farm What 114 MW wind farm in Balikesir with wind turbines from Vestas Need Financing for the customer, Aksa Enerji EKF solution Buyer credit guarantees for approximately 175 million USD

12 SLIDE 12 Case Steam boilers to Turkey What Steam boiler systems from Aalborg Engineering Need Financing for Turkish energy companies EKF solution Buyer credit guarantees for approximately 100 million USD

13 13 THE DANISH CLIMATE INVESTMENT FUND

14 DCIF WAS ESTABLISHED IN 2014 AS A PUBLIC-PRIVATE PARTNERSHIP MANAGED BY IFU Institutional investors: Total commmitted amount: DKK 1.2bn (first closing) PAGE 14

15 DCIF WILL OPERATE IN ALL EMERGING MARKETS EXCEPT FOR RUSSIA INVESTMENT STRATEGY Active minority investor. Equity focus. Investment size DKK 10m to DKK100m. Pre-agreed exit strategy. Copenhagen Cairo New Delhi Beijing All major emerging markets except Russia. Accra Nairobi Investment types: Renewable energy, suppliers to renewable energy, energy efficiency projects. Johannesburg Involvement of Danish investors or suppliers ( Danish interest ). DCIF investment countries PAGE 15

16 WHAT IS A CLIMATE PROJECT? Mitigation projects effectively reduce greenhouse gas ( GHG ) emissions Renewable Energy Projects e.g. wind, water, solar, biomass, geothermal Suppliers to Renewable Energy Projects e.g. blades for windmills, photovoltaic cells Energy Efficiency Projects (20% or more) e.g. technology upgrade, fuel switch Alternative Energy Projects e.g. utilisation of landfill gas, biogas from agricultural residues Materials or Equipment Projects e.g. insulation material, district heating systems Transport Projects e.g. urban public transport system Other projects able to provide substantial mitigation effects Adaptation projects reduce the consequences of climate change (at least 50% of total project investment costs incurred due to the actual or expected impacts of climate change) E.g. water management, agriculture, disaster preparedness, coastal and natural resource management, insurance and climate change information and consulting services PAGE 16

17 WHAT IS IFU? Independent government-owned fund, operating on commercial terms Advice and risk capital for globalisation of 800 Danish companies investments in 80 developing countries 46 of years experience Total contracted investments of more than bn DKK invested in share capital and loans bn DKK PAGE 17 03/11/2014 Event: Add event via 'View' / 'Header & Footer'. Max one line

18 SLIDE 18 Famer Engin

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