ENCAVIS has closed a project financing of EUR 61 million (USD 67 million) for its 114MW solar park located in Borrentin (south of Demmin, Mecklenburg-Western Pomerania), Germany.
Hamburg-based wind and solar park operator Encavis AG, has signed a non-recourse project financing agreement of EUR 60.7 million (USD 67 million) provided by Bayerische Landesbank for its solar plant Lindenhof (Borrentin). The plant is nearing completion of construction, which is expected at the end of September 2024. Once operational, the plant will produce 121 GWh of electricity per year. Nearly 74% of the annual electricity production for this project is fixed by a long-term Power Purchase Agreement (PPA) for a term of ten years with a corporate off-taker.
In total, the financing includes EUR 46.8 million (US$ 51.6 million) Term Loan Facilities, EUR 2.75 million (US$ 3 million) VAT Facility as well as EUR 11.1 million (US$ 12 million) Letter of Credit Facilities.
Country updates
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August 07, 2024
PPA signed of up to 64 GWh/year from 180 MW solar farm in Brandenburg
RWE Supply & Trading and Salzgitter Group have signed a power purchase agreement (PPA) of up to 64 GWh/year from a 180 MW solar farm in Brandenburg, Germany. The seven-year agreement will go...
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July 09, 2024
Construction begins on 72 MW German hybrid Project
EnBW has held a groundbreaking ceremony for its 72 MW energy park located in the district of Heilbronn in Gundelsheim, Germany.
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July 02, 2024
First turbine installed at 913 MW Offshore wind farm in Germany
Ørsted and Nuveen Infrastructure has installed the first wind turbine at the 913 MW Borkum Riffgrund 3 offshore wind farm in Germany.
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May 15, 2024
First load out of components for the 960 MW offshore wind farm began in the Netherlands
The initial transportation of components for the 960 MW He Dreiht offshore wind farm has commenced at Buss Terminal Eemshaven BV in the Netherlands. EnBW has entrusted Heerema Marine Contractors with...
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May 10, 2024
Operations started at 253 MW Offshore wind farm in Germany
Orsted and Nuveen Infrastructure, the owners of the Gode Wind 3 offshore wind project in Germany, have successfully initiated power generation with the installation of the first turbine. This 11 MW t...
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