A subsidiary of Conergy AG (CGY.F), the Voltwerk group, has completed the largest European PV financing agreement to date. Worth over 394 million euros, the financing enablers large-scale photovoltaic plants.
The agreement includes debt financing for all Voltwerk’s PV projects in Spain currently under construction or in planning. Voltwerk will now be able to complete projects with a total peak output of at least 45 megawatts on the Iberian Peninsula in 2007. The company is investing in the technologically leading sun-tracking solar systems of Conergy AG, which provide an energy yield of up to one third greater than conventional systems.
“This financing brings us significantly closer to our strategic goal of making 50% of our turnover abroad by 2008. This will enable us to strengthen our leading position in Spain,” explains Nikolaus Krane, CEO of voltwerk AG.
Worldwide, it has over half a dozen large-scale solar thermal projects in the planning stages, including a large-scale solar thermal power plant in Spain.
voltwerk AG is a leading company in the development and structured financing of projects in the renewable energy sector. The company develops, finances and implements solar and wind parks, solar thermal power stations, as well as bioenergy plants. Its clients include institutional and private investors from home and abroad. voltwerk AG is represented by branch offices in Germany, Spain, France, Italy, Australia and the USA. The voltwerk group belongs to listed company Conergy AG, Europe’s largest solar energy company by sales.
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