Fiber optic expansion in Germany
Project financing of EUR 50 million for the telecommunications provider goetel for the expansion of the fiber optic network in several districts in Hesse and Lower Saxony.
Fiber optic network expansion for goetel GmbH
The project supports the expansion of fiber optics in Germany and is funded under the KfW “Digital Infrastructure” program. The Goetel Group has over 250 employees spread across five offices in Göttingen, Kassel, Reiskirchen and Alsfeld with the aim of driving forward the expansion of fiber optic networks, particularly in underserved rural areas.
Project details
First-time funding through KfW’s “Digital Infrastructure” program. Under special conditions, the program offers a low-interest, long-term investment loan for the expansion of fiber optic networks. As part of the ongoing projects in the districts of Northeim, Göttingen, Kassel and Vogelsberg, over 23,000 households have been connected to the high-performance network. We are one of the first banks in Germany to take advantage of KfW’s new “Digital Infrastructure” program (No. 239) for its customers.
Key facts
| Volume | EUR 50 million |
| Year | 2020 |
| Households | 23.000 |
| Financing | Structuring Bank / Sole Lender |
During our discussions, Hamburg Commercial Bank demonstrated a deep knowledge of the digital infrastructure market and a great deal of understanding for the needs of medium-sized telecommunications providers. We are convinced that we have found a reliable and long-term financing partner for goetel and look forward to a good working relationship.
David Wiedemann, Investment Manager at the main shareholder Adiuva Capital GmbH
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