10.01.2013

NORD/LB arranges financing for the "Krughütte" solar park in Saxony-Anhalt

NORD/LB Norddeutsche Landesbank has taken over the project financing with a volume of approximately EUR 35 million for the "Krughütte" solar park located near Lutherstadt Eisleben in the German state of Saxony-Anhalt.

With a nominal capacity of around 30 megawatts (MW), the solar park was developed jointly by Parabel AG of Berlin and SRU Solar AG, based in Berga/Saxony-Anhalt, and built in a record time of just six weeks. A 100 percent subsidiary of Parabel AG will also be taking over the long-term running of the facility, at which over 121,000 polycrystalline solar modules manufactured by Trina Solar and approximately 1,400 inverters supplied by Siemens and Danfoss for the AC conversion will be in operation. The solar park was erected on an area of around 100 hectares on the site of the former Krughütte metalworks where copper ore was mined and smelted up into the 1970s.  The facility has the capacity to cover the electricity requirements of about 7,500 4-person households with renewable energy.

The financing of the solar park has been structured and arranged by NORD/LB, with a refinancing loan from the KfW (German government-owned development bank) renewable energy programme and a long-term commercial tranche from NORD/LB being made available. The corresponding contracts were already signed by all concerned in December.

"With this project we are once again underlining our core competence in the sphere of renewable energy", emphasized Dr. Hinrich Holm, member of NORD/LB's Managing Board. "We are particularly pleased that we have been able to support such an important project in our home market Saxony-Anhalt – a project in which a company from the region is also significantly involved."

Contact

NORD/LB Media and Communication
Friedrichswall 10
30159 Hannover


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