Nordbank to Push Renewable Lending Past $1.1 Billion in 2016

HSH Nordbank, the state-owned lender based in Hamburg, plans to boost project-finance loans for clean energy to more than 1 billion euros ($1.1 billion) for the first time next year, highlighting its confidence in the industry’s outlook.

The bank was the biggest project finance lender in Europe in 2014 and strives to retain a dominance in lending to green companies, said Lars Quandel, head of HSH’s energy and infrastructure unit. The bank, whose outstanding project finance is valued at about 4 billion euros, sealed about 900 million euros in fresh funding for clean energy projects this year, said Quandel.

“Our goal is to crack the billion mark in project funding,” said Quandel in an interview in the German port city. “New Year business should be similar to 2015, but we want to grow including in Scandinavia — foremost in Sweden and Norway.”

HSH’s renewable energy lending may take on a more significant role as it sheds soured loans from its shipping business into a bad bank. The bank has been lending on clean energy including hydropower projects for 25 years.

The states of Hamburg and Schleswig-Holstein, which own 85 percent of HSH, plan to create the bad bank by the end of the year as part of an Oct. 19 agreement with the EU to cut in half HSH’s distressed loans. These debts accounted for a quarter of its total credit book at the end of September, according to the company.

HSH also hopes to do business in Poland, assuming the market matures, as well as in established markets such as Germany and France. It’s looking for projects to back in southern Europe that already have power purchase agreements, he said.

HSH may also match or expand its loans to German clean companies next year, compared with the 250 million euros to 300 million euros lend this year, said Quandel. The bank’s corporate lending in clean energy is limited to Germany while project finance is European-wide, he said.

Nordbank to Push Renewable Lending Past $1.1 Billion in 2016

Cooperative continues local solar-energy push

The Clintonville Energy Cooperative will gather April 11 to explore the question, “Is solar energy right for you?”

The 25 or so members of the cooperative — some of whom have installed solar systems at their residences, while others continue to grapple with the cost-versus-benefit issue — have been studying a community approach to the alternative energy source for the past year, said Deborah Crawford, one of the founders.

They feel they now have some answers, she said last week, and want to share them with others at the workshop, which will be held from 2:30 to 5:30 p.m. April 11 in the auditorium of the Whetstone Community Center, 3923 N. High St.

“We feel we’ve made some headway and want to open the doors and invite others to come along on the journey with us,” Crawford said. “We just feel like the time is right.”

“For me, it has been the process that you have to go through,” said Brian Brown, another member of the cooperative. “I’m a kind of DIY type of person, and I’m trying to understand what the process is and how much of it I can do, how much can the cooperative add into and what are the options.”

The meeting is open to anyone, but Crawford said it is primarily geared to engaging more people in creating a solar community within Clintonville. Brown said the work being done by the cooperative could serve as a model for similar efforts in other parts of Columbus.

“Eventually, we would love it if other communities do this,” Crawford said.

The April 11 workshop will outline the key steps to assessing if solar energy is the right option for residents, according to an announcement.

Those who attend are encouraged to bring their most-recent electric bills.

The bills will be used to determine electric usage needed for sizing potential solar installations, the announcement stated.

Those who attend will learn about the basic steps in providing solar energy for their homes, including siting and shading, roof and engineering issues, permits, cost estimates and financing.

The Clintonville Electric Cooperative, which Brown said has a goal of at least one solar house on every street in the neighborhood, is in the process of piloting eight installations at the homes of members.

“It appears to me that it is feasible and it is viable,” Brown said. “The question is how much solar do you want to put into your house, and then the payback time on your investment.”

“I feel like we’re more ready to open it up to the entire community because we feel like we know a little more now, and we need the entire community to make this work,” Crawford said.

Cooperative continues local solar-energy push