Deutsche Bank provides EUR 136m financing for solar plants in Italy, Spain
Aug 26, 2011 - Deutsche Bank AG (ETR:DBK) said today it had provided financing in the amount of EUR 136 million (USD 196.5m) for the construction of a solar plant in Italy and the acquisition of another in Spain through its Asset Finance & Leasing (AFL) unit.
The bank has extended EUR 83 million for the construction of a 48 MWp photovoltaic solar park developed by German solar power plant specialist SAG Solarstrom (ETR:SAG) in Canaro, a municipality in Italy's northern Veneto region. The plant is expected to be connected to the grid by the end of August, Deutsche Bank said. Once completed, the solar park, which will be able to supply 14,700 households with clean electricity, will be sold to investors.
The other loan, of EUR 53 million, will be granted for the acquisition of a photovoltaic solar park in Toledo, Spain. The 15.3 MW installation was brought into operation at the beginning of 2010 and is able to supply a total of 5,400 households with green energy. The overall investment in the acquisition of the facility stands at EUR 77 million.