By .(JavaScript must be enabled to view this email address) - 14 December 2012, 18:34
In News, Power Generation, Finance, Project Focus

KfW signs €10 million loan agreement for Solar World Cup 2014 project

The Mineirão stadium in Brazil is one of two football stadiums, which will sport new PV rooftop systems.

On behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), KfW Entwicklungsbank, has signed a €10 million (US$13 million) loan guarantee with Brazil’s Companhia Energética de Minas Gerais (CEMIG) for the Solar World Cup 2014 project.

The project will see the Mineirão and Mineirinho stadiums, located in Belo Horizonte, outfitted with rooftop photovoltaic systems, which hold a combined capacity of 2.6MW. Electricity produced by the project will be fed into the grid so that Brazilian consumers can benefit from the solar electricity.

Total investment for the project is projected at €14.25 million (US$18.7 million). The KfW loan will help fund the project and includes funds from the BMZ for interest reduction and a contribution of €4.25 million (US$5.6 million) from CEMIG. Further, the Deutsche Gesellschaft für Internationale Zusammenarbeit plans to support CEMIG in marketing the solar electricity and training technical personnel.

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Looking back, 2014 was a year of convalescence for a PV industry still battered and bruised from a period of ferocious competition. End-market demand continued apace, with analysts towards the end of 2014 predicting the year would see between around 45 and 50GW of deployment. That has begun to feed through to the supplier end of the market, with all the main manufacturers announcing capacity expansions in 2015 and further ahead.

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Although the past few years have proved extremely testing for PV equipment manufacturers, falling module prices have driven solar end-market demand to previously unseen levels. That demand is now starting to be felt by manufacturers, to the extent that leading companies are starting to talk about serious capacity expansions later this year and into 2015. This means that the next 12 months will be a critical period if companies throughout the supply chain are to take full advantage of the PV industry’s next growth phase.

KfW signs €10 million loan agreement for Solar World Cup 2014 project

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