Deutsche Bank, Helaba Landesbank Hessen- Thüringen and KfW IPEX-Bank have come together to finance €110 million for five PV power plants located throughout Italy. The companies advised that the loans were structured from the financing program for renewable energies and are comprised of low interest rate funding tools.
The five Italian PV projects include the Piazza Armerina, a 3.594MW plant, and the Troina plant, a 5.266MW plant, both located in Sicily. Joining them to the north are the Carlino 1, a 5.535MW plant, Carlino 2, 9.915MW and Carlino 3, 6.086MW, located in the Udine province. Together the five PV projects will amount to 30.4MW of solar power and hold a total yearly output of 47 million kWh. All five projects were connected to the grid at the end of April and are eligible for the FiT of Conto Energia 2 and Conto Energia 3.
The total investment for the PV projects totals at €180 million. Equity capital was provided by KGAL, which began the funding for the plants through two closed-ended funds, which have been placed on the market.