BayernLB secures EUR 100m loan for solar park construction

Sep 30, 2011 - German wholesale lender BayernLB said today it has secured EUR 100 million (USD 135.3m) financing in partnership with NIBC Bank NV and Investkredit Bank for the construction of a solar plant in the German state of Brandenburg.

The loan is to be refinanced for 14 years via the environmental program of KfW Foerderbank.

The EUR 130 million project has been initiated by German Commerz Real Fondsbeteiligungsgesellschaft mbH (CFB), which will provide the equity through a closed-end fund structure.

The facility will be built and operated by German contractor Belectric. It is scheduled to go on stream by the end of 2011.

The solar plant with an annual output of some 65 GWh will deliver electricity to about 18,000 households and lower the CO2 emissions by 39,000 tonnes per year.

(EUR 1.0 = USD 1.353)

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