ET Solar Completes PV Power Plant in Germany
— Jan 12, 2010
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ET Solar's German engineer team provided full design for the project with PV modules provided by ET Solar's China manufacturing plant. Assessed by a third party German consulting firm, the plant's designed efficiency is almost 82 percent.
The project is located in the Paehl region that is approximately 50 kilometers south of Munich. Main construction work started in late November 2009 and grid connection was done in mid-December the same year at E.ON, the largest grid operator in Germany.
The plant has a 30-year designed life and is expected to generate approximately 32 million kWhs of electricity over the 20-year subsidized period to reduce almost 20,000 tons of carbon emissions.
Wattner AG (Wattner), a Cologne based investment trust that is specialized in renewable energy investments, is the sole equity investor of the project via its publicly raised SunAsset fund. Project finance was provided by a syndicate of two regional German savings banks.
“We are very excited with the completion of this project and our partnership with Wattner,” said Dennis She, vice president and chief sales officer of ET Solar. “The transaction showcases our strong ability to execute our downstream strategy leveraging our EPC experience, product quality and cost advantages.”
