Luxcara shuts financing for 171MW German PV
- UmweltBank supplying funding to the under-construction Tramm-Gothen project
Asset supervisor Luxcara and UmweltBank have actually accomplished economic close on the under-construction 171MW Tramm-Gothen solar farm in Germany.
Tramm-Gothen lies in the municipalities of Tramm as well as Lewitzrand in the state of Mecklenburg-Western Pomerania.
It is possessed by renewable resource funds for institutional financiers advised by the Luxcara.
The mid-double-digit million funding quantity was offered by the financial institution UmweltBank, which is focussed on funding renewable energy projects.
Equity is offered by renewable resource funds, advised by Luxcara.
The earnings of the deal will be used to fund the recurring building and construction of the project.
Start of business operation is expected in the initial quarter of 2022.
The produced electrical energy will be offered under a power purchase arrangement with a tenor of 10 years.
Luxcara managing partner Alexandra von Bernstorff claimed: "We are delighted to proceed our collaboration with UmweltBank as well as anticipate further sustaining Germany's energy transition.
" This purchase shows, once again, that our proven strategy to obtain, framework as well as finance PPA-based renewable energy projects is a lasting and financially appealing financial investment suggestion for institutional investors."
UmweltBank board member Goran Basic said: "The Tramm-Gothen solar farm is one more milestone on Germany's method to energy shift as well as a lighthouse project of UmweltBank's loanbook.
" The project reveals, one more time, that our custom-made financing solutions for PPA projects are well obtained on the market."