Umweltbank finances 110 MW solar project in Germany

• Designer Anumar has actually secured the trademark of Norwegian renewables firm Statkraft on a 50 MW power acquisition agreement for the project and another 30 MW of generation capability has actually been awarded a feed-in premium tariff in a tender. Umweltbank supplied a EUR55 million lending.

German environment-friendly lending institution Umwelt AG will certainly provide a EUR55 million loan for the nation's largest unsubsidized solar energy project-- designer Anumar's 110 MW Schornhof solar park, which is incomplete in Bavaria.

Anumar has actually safeguarded the trademark of Norwegian renewables business Statkraft on an 11-year power acquisition contract (PPA) for 50 MW of the generation capability of the EUR60 million project as well as arrangements are under way to contract the sale of power from an additional 30 MW at the website. The programmer has been awarded a feed-in premium contract for 30 MW of Schornhof's capacity, assigned in Germany's tenders for big scale PV.

Umweltbank, which funds just environmentally-friendly projects, claimed the financing is its biggest financial investment to day in PPA-backed renewable resource projects. Thomas Benz, the loan provider's deputy head of power and framework, informed pv publication numerous car loans had been provided for solar projects in recent months, yet they were for sub-10 MW range facilities. In terms of loaning for PPA-driven projects, he stated: "At the end of last year, we had a slow start however we were able to find out and also gain experience. Currently the bigger projects are coming." The financial institution has actually fielded financing ask for 300 MW of solar projects, Benz claimed, in the form of nuclear power plant with generation capacities varying from 8 MW to 100 MW.

The Umweltbank rep said the marketplace is beginning to regain ground after the Covid-19 crisis drove down electrical energy rates, stopping the European PPA market.

" We are seeing a slow-moving healing," stated Benz, of solar centers for which PPA arrangements had actually started before the arrival of the new coronavirus in Europe. He stated big websites appropriate for solar project growth are once more being sought.

Benz claimed Umweltbank can give a preliminary financing choice within two weeks, gave all licenses are in location for organized projects. A decision usually comes within eight weeks of the application but the Umweltbank agent stated the loan provider's experience on the market had actually demonstrated it can get to a decision quicker if it has actually been associated with PPA settlements from the start.

Conventional PPAs

The bank now wants to develop standardized PPA contracts to decrease the moment required to reach financing decisions. "PPAs will not be able to change tender projects as well as systems as much as 750 kW, yet they will certainly still be a crucial 3rd column for the further growth of photovoltaics in Germany," stated Benz.

At the Schornhof solar project, the change of use from agriculture to solar farm, and also its consequent biodiversity advantages, drew in Umweltbank. Referring to the fenland where the plant will be located, the lending institution specified: "The Donaumoos area has actually been utilized intensively for agriculture. By running the solar park, the areas can recuperate in the long-term." Lowering water drainage at the site need to elevate the groundwater level and the financial institution added: "New meadows are being created under the solar modules that advertise biodiversity."