Berenberg financial resources 65MW Hungary solar

• Greencells' Szügy project is already under construction as well as is anticipated to start procedures in October 2022

Financial investment bank Berenberg is funding a 65MW solar project in Hungary.

Greencells Group is creating the 65.2 MW Szügy solar project using money from the Berenberg Green Energy Junior Debt Fund III, which is providing younger debt financing for the building and commissioning phase.

Berenberg acts as financial investment consultant to the fund.

Szügy is currently unfinished and also is anticipated to start its operations in October 2022.

The park gain from a government guaranteed feed-in-tariff (FIT) over 25 years starting at procedures.

The solar park will certainly be built with 121,000 photovoltaic or pv modules.

Szügy is Greencells' biggest financial investment in the Hungarian photovoltaic or pv market with more projects ahead in the future.

Andreas Hoffmann, Greencells CEO, specified: "Hungary, like numerous other Eastern and also Central European countries, has quickly turned into a highly appealing market for solar energy.

" Greencells is already the marketplace leader by set up capacity in Hungary as well as will continue to increase its setting there.

" In Hungary also, solar energy has ended up being one of the most cost-efficient form of environmentally friendly energy generation as well as is highly economically viable independent of government subsidies."