The lending volume of up to EUR 92.5 million will be provided jointly with Siemens Financial Services through Siemens Bank.
The first ten locomotives financed under this framework purchase agreement are already in use by various railway operators or will soon be delivered to them. As the market response to the locomotives remains very positive, an additional eight VDMs have now been ordered from the manufacturer. They will be delivered in stages from 2023. More requests for disbursement to secure further deliveries in 2024 are already being coordinated.
“We are pleased to be able to support our long-standing customer RIVE Private Investment with this transaction”, explained Andreas Ufer, member of the Management Board of KfW IPEX-Bank. “At the same time, with these state-of-the-art locomotives, we are making a positive contribution to the transition of rail traffic in Germany".
The financed locomotives can run on electrified routes without emitting any direct emissions and can bridge non-electrified route sections using a diesel generator. The result is significantly lower CO2 emissions, as non-electrified sections had previously made it necessary to use diesel vehicles on the entire route.
“The transaction further strengthens RIVE Private Investment’s strategic position in the railway sector, aiming to support the energy and environmental transition policy in Europe. We are proud to support Siemens as a manufacturer while investing alongside Paribus/Northrail in innovative products that will transform the sector and fight climate change”, stated Camille Brunel, Partner at RIVE Private Investment.
Within KfW Group, KfW IPEX-Bank is responsible for project and export finance. It supports German and European companies operating in key industrial sectors in global markets by structuring medium and long-term financing for their exports, funding infrastructure investments, securing the supply of raw materials, and financing environmental and climate change mitigation projects worldwide.