One of Italy’s largest solar power plants has begun operations in a project managed by Deutsche Bank’s asset finance business.
The “photovoltaic”, or solar panel plant, in Torre Santa Susanna was developed with solar energy companies: EST — Energie & Solar Technik GmbH, dean Solar GmbH and Sanyo. It has a capacity of 7.56 megawatts – the equivalent to the electricity consumption of 3,300 four-person households, Deutsche Bank said.
As well as managing the £40 million project, Deutsche Bank arranged equity and debt financing for the power plant.
Deutsche Bank has teams in asset finance and leasing who specialise in developing renewable energy projects.
Bernd Fislage, global head of asset finance and leasing at Deutsche, said the German bank has developed 50 large renewable energy projects worldwide, including onshore and offshore wind parks.
The construction of the power plant was carried out jointly by CIET srl (construction and integration), Ideematec (supplier and installer of the tracking system) and Arcadis (owner’s engineer services). The project was financed by Unicredit Leasing.