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August 31, 2011updated 12 Apr 2017 4:12pm

Deutsche Bank finances solar power plants

Deutsche Banks asset finance and leasing business has had a role in financing the construction of two solar power plant parks in Italy and Spain The installation will be able to generate 65 million kWh of power, which is enough to supply 14,700 four-person households with renewable energy, said Deutsche Bank in a statement

By Elza Holmstedt-Pell

Deutsche Bank’s asset finance and leasing business has had a role in financing the construction of two solar power plant parks in Italy and Spain.

The bank provided €83m for the high power photovoltaic (PV) park constructed in Canaro, Northern Italy.

The installation will be able to generate 65 million kWh of power, which is enough to supply 14,700 four-person households with renewable energy, said Deutsche Bank in a statement.

The solar park was installed by S.A.G. Solarstrom and will be connected to the electricity grid by the end of August this year.

When the project is completed, it will be sold to investors.

The bank also arranged the debt financing of €53m for a photovoltaic solar park in Toledo, Spain. 

The operations started at the beginning of last year and the PV plant will generate 24 million kWh of electricity per year, enabling it to provide renewable energy for 5,400 four-person households.

Earlier this year, Deutsche Bank asset finance and leasing managed a €40m solar panel project in Torre Santa Susanna, Italy.

Bernd Fislage, global head of asset finance and leasing at Deutsche Bank said the bank has long-term experience in the development of plants that harness renewable energy.

He added that the most recent projects in Italy and Spain show that the bank can provide innovative financial solutions for the construction phase of a project.

Elza.HolmstedtPell@vrlfinancialnews.com

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