Deutsche Bank, Helaba and KfW IPEX-Bank provide loans in a volume of EUR 100 million for five solar power stations in Italy

A banking syndicate consisting of Deutsche Bank, Helaba Landesbank Hessen-Thüringen and KfW IPEX-Bank has provided external financing for five important photovoltaic solar power stations in Italy. For this purpose, the syndicate provided loan finance in an amount of more than EUR 110 million. The external financing was structured integrating low-interest funding capital provided by KfW from their lending scheme for Renewable Energies.

Italy is one of the photovoltaic markets showing the strongest growth in the world. The five new solar power stations have a capacity of 30.4 Megawatts (MW). Whereas the Piazza Armerina (3.594 MW) and Troina (5.266 MW) plants are located in the centre of Sicily, the power stations Carlino 1 (5.535 MW), Carlino 2 (9.915 MW) and Carlino 3 (6.086 MW) are located in the north of the country, in the province of Udine, region Friuli-Venezia Giulia.

On a total area of 129 ha, 145,000 poly-crystalline solar modules made by leading manufacturers were installed. The five solar parks produce 47 million kWh of power from environmentally-friendly solar energy, which is sufficient to supply power to the equivalent of 10,500 four-person households. All projects had been connected to the power grid by the end of April 2011 and are thus subject to the provisions of Conto Energia 2 and Conto Energia 3, governing compensation for energy fed into the grid.

The general contractors for the construction of the five solar power stations, and responsible for their operation and service, are a+f Italia S.r.l. and a+f GmbH, both subsidiaries of the mechanical engineering company Gildemeister located in Bielefeld. All in all, the investment volume of the environmental protection project amounts to EUR 180 million. Own funds have been contributed by KGAL, the initiator of the financing transaction, via the two closed-end funds European Solar Power Funds Nr. 1 and InfraClass Energie 5, which have already been successfully placed.

Contact

Deutsche Bank AG
Dr. Klaus Winker
Tel: +49 (0) 69 / 910 32249
E-Mail: » klaus.winker@db.com
» www.deutsche-bank.com

KfW IPEX-Bank GmbH
Communication
Thomas Krick
Tel: +49 (0) 69 / 7431 8454
E-Mail: » thomas.krick@kfw.de

» www.kfw-ipex-bank.de