The solar park, which is being developed, pre-financed and built by Sunovis, a solar developer based in Baden-Württemberg, Germany, will operate entirely without EEG compensation and is expected to begin commercial operation this year.
Solar park Strasen in Mecklenburg-Vorpommern will generate around 33 GWh of solar power annually - enough to supply around 11,000 households with green electricity. Statkraft's purchase of the electricity generated provides the necessary framework to implement this project. The Norwegian energy company will use the generated electricity to supply industrial companies with structured green power solutions.
"Providing project developers with the right power purchase agreements to enable the construction and operation of their renewable energy plants while optimizing risks over many years is one of Statkraft's core competencies," says Patrick Koch, head of Statkraft's German origination business.
Good financing conditions for solar parks
In view of the ambitious expansion targets for renewable energy in Germany, good financing conditions for plants built without EEG subsidies are playing an increasingly important role. The financing of the Strasen solar park is a case in point.
Also interesting: Statkraft supplies solar and wind power on a large scale
The investor and fund provider Ökorenta is providing the equity for the solar park, and UmweltBank is co-financing the operation of the Strasen solar park over the long term despite the comparatively short term of the power purchase agreement. During the transaction, Munich-based Bankhaus von der Heydt assisted project developer Sunovis with the sale of the solar park, debt financing and PPA closing.
Only three months for contract conclusion
"The cooperation with Sunovis, Ökorenta and UmweltBank has proven to be very efficient and positive. Only three months passed from the first inquiry to the conclusion of the contract. With the current large number of new projects, reliable partners are key to keeping the transaction costs of a long-term off-take agreement in check," adds Koch. (hcn)
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