Hamburg, 07 January 2022
Luxcara, a leading European asset manager for investments in renewable energies, and UmweltBank AG have achieved financial close for Germany’s largest independent solar PV project. UmweltBank AG is financing the Tramm-Göthen solar farm under construction in the municipalities of Tramm and Lewitzrand in the state of Mecklenburg-Western Pomerania. The project has a planned capacity of over 171 MWp and is owned by renewable energy funds for institutional investors advised by the asset manager Luxcara.
The mid-double-digit million financing amount was provided by the bank UmweltBank AG, which is focused on financing renewable energy projects. Equity is provided by renewable energy funds, advised by Luxcara.
The proceeds of this landmark transaction will be used to fund the ongoing construction of Germany’s largest independent solar PV project with an expected capacity in excess of 171 MWp. Start of commercial operation is expected for Q1 2022. The produced green electricity will be sold under a power purchase agreement (PPA) with a tenor of 10 years.
Alexandra von Bernstorff, Managing Partner of Luxcara, comments: “We are delighted to continue our collaboration with UmweltBank AG and look forward to further supporting Germany’s energy transition. This transaction demonstrates, once again, that our proven strategy to acquire, structure and finance PPA-based renewable energy projects is a sustainable and economically attractive investment proposition for institutional investors.”
Goran Bašić, Board member of UmweltBank, comments: "The Tramm-Göthen solar farm is another milestone on Germany’s way to energy transition and a lighthouse project of UmweltBank’s loanbook. The project shows, once more, that our tailor-made financing solutions for PPA projects are well received on the market.“ Thomas Scheppler, project manager at UmweltBank, adds: "Thanks to Luxcara for another competent cooperation.“
About UmweltBank AG
UmweltBank AG combines sustainability with economic success since its foundation in 1997. With 300 employees the green bank manages 135,000 private and commercial customers all around Germany. Core competency of UmweltBank lies in financing renewable energies as well as eco-friendly and social housing projects. Whether wooden house, student accomodation or solar farm – the green bank has financed 25,000 green projects within the last 25 years. Moreover the bank offers sustainable savings accounts, securities and insurances. With its consequent focus on sustainability UmweltBank contributes to its vision to create a world worth living in for future generations.
Discover UmweltBank at www.umweltbank.de
Luxcara is an independent asset manager offering institutional investors equity and debt investment opportunities in the international renewable energy market. The owner-managed company was founded in 2009. Luxcara acquires, structures, finances and operates renewable energy and related infrastructure projects as a long-term buy-and-hold investor. The company specializes in structuring free-market power purchase agreements.
Luxcara's portfolio includes solar and wind power plants across Europe with a total capacity of more than 3 gigawatt and an investment volume exceeding 3 billion euros. With this outstanding track record, Luxcara is one of Europe’s most experienced asset managers for renewable energy investments.
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