The group successfully concludes financing for three Spanish megawatt photovoltaic plants.

With the successful conclusion of the financing for the Spanish major projects Manzanares, Herrera and Chinchilla by the HSH Nordbank, the Conergy Group has now financed all the major projects realised in 2008 in Spain via its subsidiary EPURON. The photovoltaic plants, including also the 21.2 MW El Calaverón project sold back in June, were installed promptly and according to schedule and, as such, were connected to the public grid at the still lucrative feed-in tariff of 45 cents per kWh. This assures attractive profits for the future operators of these plants. Having realised and financed no fewer than four major projects, with a total investment volume of over €218 million, the Conergy Group is one of the most successful project developers and financiers on the Iberian Peninsula in 2008.

“Particularly in the present tense capital market situation, photovoltaic plants are proving to be a highly popular investment. We are experiencing a consistently high demand for our products,” says Nikolaus Krane, chief projects officer Conergy. “In addition to guaranteed and attractive feed-in tariffs, a decisive factor in making our products so appealing is also the high quality solar systems. In this regard, as a long standing market participant, our vast expertise in the project development and financing sector represents a major advantage,” adds Nikolaus Krane.

The three plants with an output of two megawatts each are located in the Spanish region of Castile-La Mancha. All the plants are equipped with the biaxial tracking system Conergy SolarOptimus (Chinchilla 1) and Pairan models (Manzanares and Herrera). These produce an annual output of around 12.1 million kilowatt hours of solar energy. Conergy has been operating on the Spanish solar market since 2004 and, since then, has realised and financed major plants with a total output of around 45MW via its subsidiary EPURON.