Wireline Issue 47 Spring 2020

What role can UKEF play in the energy transition,nationallyandinternationally? We are already playing a role in driving UK content into overseas renewables projects across the globe. We recently provided £230 million of support for the Formosa 2 offshore wind farm project in Taiwan so that more UK companies will be involved in its construction. We are also financing renewables companies exporting from the UK. Our support for JDR Cables’ contract to supply the Meerwind Süd and Meerwind Ost windfarms off the North Sea coast of Germany helped them double the speed of their development. How has the organisation responded to challenges over its funding for fossil fuel projects? Any support we provide is subject to the project meeting strict criteria, including compliance, environmental and social requirements. That said, we are further strengthening the way we assess climate change risk and developing the breadth of our support for the renewable energy and clean growth sectors. How can businesses and SMEs seek support from UKEF? If you would like to find out how UKEF can help you win orders, fulfil contracts and get paid, then visit www. great.gov.uk/trade-finance/ or if you have questions, please feel free to contact me directly!

"We can secure financing for exports by guaranteeing a bank up to 80% of the value of a contract and insuring against non-payment or buyer default." UKEF Export Finance Manager Alistair McMillan

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