Deutsche Bank, Helaba and KfW IPEX-Bank provide EUR 110 million in loans for five solar power plants in Italy

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Italy’s photovoltaic markets shows one of the world’s strongest rates of growth in the industry.

A consortium of banks comprising Deutsche Bank, Helaba Landesbank Hessen-Thüringen and KfW IPEX-Bank has provided outside financing for five photovoltaic power plants of significant size located in Italy, making loans amounting to over EUR 110 million available. The loans were structured from the financing programme for renewable energies and incorporate low-interest-rate funding instruments.

Italy’s photovoltaic markets shows one of the world’s strongest rates of growth in the industry. Together, the five new solar power plants have a capacity of 30.4 megawatts (MW). The Piazza Armerina (3.594 MW) and Troina plants (5.266 MW) are located in the centre of Sicily, while the Carlino 1 (5.535 MW), Carlino 2 (9.915 MW) and Carlino 3 plants (6.086 MW) are to be found in the north of the country in Udine province, in the Friaul-Julisch Venetien region.

A total area of 129 ha now plays host to 145,000 polycristalline solar modules produced by leading manufacturers. The five solar parks have a total output of 47 million kWh of electricity from eco-friendly solar energy, which is enough to supply the equivalent of 10,500 four-person households with power. All five projects were connected to the grid by the end of April 2011, meaning they fall under the regulations of the feed-in tariffs Conto Energia 2 and Conto Energia 3.

a+f Italia S.r.l. and a+f GmbH, both subsidiaries of Bielefeld-based machine technology manufacturer Gildemeister, are the general contractors for the construction of the five solar power plants and additionally responsible for their operation and maintenance. The total investment volume for the climate-friendly project amounts to EUR 180 million. Equity capital was supplied by KGAL, who initiated funding of the plants, via the two closed-end funds European Solar Power Funds Nr. 1 and InfraClass Energie 5, which have both already been successfully placed on the market.

About Deutsche Bank

Deutsche Bank is a leading global investment bank with a substantial private clients franchise. Its businesses are mutually reinforcing. The bank has comprehensive experience in developing plants for the use of renewable energies. Deutsche Bank has supported more than 50 major projects around the world, mainly onshore and offshore wind parks and solar installations. The overall capacity of these plants exceeds 850 mega-watts. The bank has been employing dedicated teams in Asset Finance & Leasing (AFL) that work on developing projects for the use of renewable energies. The teams are working from Germany, London, New York and Singapore. AFL is supporting these projects across their entire lifecycle, offering project development activities, assistance in obtaining short-term and long-term (equity or debt) financing and consulting services.

About Helaba

Helaba Landesbank Hessen-Thüringen is an integrated universal bank with a strong regional focus. The bank is represented at important international financial centres, operating branch offices in Dublin, Paris, London and New York as well as representative offices in Madrid, Moscow and Shanghai. Helaba has been involved in domestic and international power plant projects in the field of renewable energies, ranging from photovoltaics, solar thermal energy and wind energy to hydropower, since the end of the 1990s. Renewable energies today is a constantly increasing, permanent business field within Helaba. The bank supports investors and project developers in analysing their projects, advises them regarding long-term profitability and structures customised financing solutions.

About KfW IPEX-Bank GmbH

KfW IPEX-Bank is a part of the KfW Group and specialises in international project and export financing. It is responsible for providing finance to support the German and European economy, a task derived from the legal mandate assigned to KfW Group. KfW IPEX-Bank GmbH focuses on providing medium to long-term financing to support the export business, develop the economic and social infrastructure and for environment and climate protection projects. As a legally independent group company, it makes a significant contribution to the mission of KfW Group. KfW IPEX-Bank GmbH has about 526 employees (as of 31 December 2010) and is represented at the most important international business and finance centres.

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