Landesbank Baden-Wuerttemberg (LBBW), serving as mandated lead arranger, will finance the construction and operation of a 145-MW solar power plant in the Netherlands, it announced this week.
The bank said it is facilitating EUR 120 million (USD 136.4m) in total financing for the Northernlights project. The funding has a term of 20 years.
Hamburg-based Blue Elephant Energy is currently building the facility on two sites -- a 101-MW portion in Stadskanaal and 44 MW in Buinerveen.
Once completed in late 2020, the plant’s generation will be enough to meet the annual consumption of some 44,000 homes and will help the Netherlands cut its carbon dioxide (CO2) emissions by about 80,000 tonnes per year.