NORD/LB finances French roof-mounted solar project
NORD/LB Norddeutsche Landesbank finances the acquisition and operation of a roof-mounted solar power portfolio in France for Danish fund manager OBTON A/S. The overall financing volume amounts to EUR 22 million.
The solar systems of the Sheepfarm project are comprised of 20,000 solar modules mounted on 505 sheep shelters and two farm buildings, with a total installed capacity of four megawatts peak (MWp). Purchased by a fund managed by OBTON A/S, the systems are located in the central French region of Auvergne near Clermont-Ferrand and have been in operation since 2012.
The Sheepfarm roof-mounted solar power project represents an important step on the way towards building up France as a key NORD/LB market alongside Germany, the UK and Ireland. "France is in our view one of the major growth markets in the sphere of renewable energies. As regards the structuring of the financing, NORD/LB was able to draw on its own wealth of expertise gathered over many years ", says Heiko Ludwig, Head of NORD/LB's Origination Energy Europe division.
In aggregate, NORD/LB has already financed around 480 MW of solar and wind energy projects in France.
NORD/LB has been internationally active in the solar energy market segment for over ten years and has already financed several ground-mounted solar projects. The Sheepfarm project is NORD/LB's first large-scale roof-mounted solar project in France.
Dr. Catrin Kuhlmann
Phone: +49 (0) 391 589-1539
About NORD / LB
With total assets of EUR 181 billion, NORD/LB Norddeutsche Landesbank is among Germany's leading commercial banks. Its core business fields include structured financing in the energy and infrastructure sectors, ship and aircraft financing, corporate banking, commercial real estate financing, capital market business and the servicing of private and corporate customers. The bank is headquartered in Hanover, Braunschweig and Magdeburg, with branch operations in Düsseldorf, Hamburg, Munich, Schwerin and Stuttgart. NORD/LB is represented outside of Germany by a mortgage bond bank (NORD/LB Covered Bond Bank) in Luxembourg and branches in London, New York, Singapore and Shanghai.
About Obton A/S
Obton is an investment and management company specialized in solar projects. Obton represents Scandinavian retail investors and manages a rapid growing PV portfolio of currently 180MW with an enterprise value of EURm 650. The plants are primarily located in France and Germany.
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