Solar

S.A.G. Solarstrom Finances 4.6 MW PV System

S.A.G. Solarstrom AG this week announced that it has received funding for a 4.6-megawatt (MW) solar system that the company is developing on the roof of the Dehner Garden Center in Rain am Lech. The financing comes as part of a deal to finance a portfolio of projects. The 18-year financing transaction calls for the investment of between €10-14 million from Deutsche Bank AG.

The roof-top system, which will use First Solar thin-film modules, will thus strengthen S.A.G. Solarstrom’s business of Power Production and provide an attractive contribution to operating income.

The financing, which was concluded in a matter of weeks and without any snags will see funds provided by the bank’s Reconstruction Loan Corporation from their Renewable Energies program.  The company says that this deal highlights the positive reputation S.A.G. Solarstrom AG enjoys with banks.

“We were able to negotiate an attractive interest rate for the financing,“ said Christoph Koch, CFO of the S.A.G. Solarstrom. “As a result of both this outcome and the high performance capability of the system, attractive returns will be achieved.”