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.“

KeyFacts Energy Industry Directory: Luxcara