Enerparc safeguards financing for 69 MWp of solar in Germany

• Solar designer Enerparc AG has concurred financing for the construction as well as procedure of 6 solar projects in Germany with a complete capacity of 69 MWp from Hamburg-based personal bank Berenberg.

The single-tranche financing will be provided by funds handled by the bank, Berenberg Green Energy Debt Funds, Enerparc said on Tuesday, without disclosing the certain amount.

The portfolio to be financed includes six photovoltaic projects with an individual capacity of in between 5 MWp as well as 28 MWp and also one of the solar parks will be equipped with a battery. The projects are located in the German government states of Mecklenburg Western Pomerania, Brandenburg as well as Saxony and are at various stages of construction. The solar parks are anticipated to reach business operation by the end of 2023.

Initially, the electricity from the plants will certainly be offered straight on the power market. Enerparc additionally deserves to market the output using a power acquisition agreement (PPA) in the future.

"The financing gives us the opportunity to bridge the building and construction without going into a PPA. The adaptability in the choice of the final offtaker as well as of the long-term funding is a significant advantage during volatile electrical power prices and rate of interest," Enerparc's money head, Marco Langone, kept in mind in the statement.