Financial close for 171 MWp solar PV project in Germany

Luxcara, a European asset manager for investments in renewable energies, and UmweltBank AG have achieved financial close for the 171 MWp Tramm-Göthen solar PV project in Germany. 

The largest independent solar PV project in the country is located in the municipalities of Tramm and Lewitzrand in the state of Mecklenburg-Western Pomerania. Currently under construction, the 171 MWp PV plant is owned by renewable energy funds for institutional investors advised by Luxcara.

UmweltBank AG has provided the mid-double-digit million financing amount, while equity is provided by the project's owners. The proceeds of this transaction will fund the ongoing construction of the Tramm-Göthen PV project, which is expected to start commercial operation in the first quarter of 2022. The produced electricity will be sold under a power purchase agreement (PPA) with a tenor of 10 years.