Statkraft Backs Solar Park with 5 - year PPA

Jul 15, 2022 07:14 PM ET
  • Statkraft is supporting the building as well as procedure of the 30 MW solar park.
  • The capitalist and also fund manager Okorenta is giving the equity for the solar park, as well as UmweltBank is co-financing the operation of the Strasen solar park in the long term.

Europe's leading renewable energy gamer, Norwegian firm Statkraft, has signed a 5-year power acquisition agreement (PPA) for the Strasen Solar Park. The Norwegian power business is thus supporting the construction and also operation of the 30 MW solar park.

According to the official statement of Statkraft, the solar parkwill operate totally without EEG aids as well as is anticipated to begin commercial operation this year. The solar park in Western Mecklenburg-Pomerania will create around 33 GWh of solar energy annually-- adequate to provide approx. 11,000 families with green power.

The acquisition of the created power by Statkraft offers the essential framework to understand this project. The Norwegian energy company will make use of the solar energy from the PPA to use green power solutions to industrial companies.

" Supplying project developers with the right power acquisition agreements to enable the construction and procedure of their renewable resource plants while optimizing the dangers over years is one of Statkraft's core expertises," says Patrick Koch, head of Statkraft's German origination service.

Good funding problems for solar parks

In view of the enthusiastic renewable resource targets in Germany, good financing problems for plants built without EEG subsidies are playing a significantly important function. The funding of the Strasen solar park is prompt. The investor and also fund manager Okorenta is offering the equity for the solar park, as well as UmweltBank is co-financing the operation of the Strasen solar park in the long-term, in spite of the comparatively short-term of the power purchase agreement.

Throughout the transaction, the Munich-based bank von der Heydt supported the project designer Sunovis in the sale of the solar park, the debt funding and the closure of the PPA.

"The collaboration with Sunovis, Ökorenta and UmweltBank has confirmed to be extremely efficient as well as positive. Only 3 months passed from the very first enquiry to the verdict of the contract. With the current multitude of new projects, trustworthy companions are the trick to keeping the deal prices of a long-term off-take agreement within limits," includes Koch.

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