Deutsche Bank has provided financing for two major PV projects in southern Europe. The bank’s Asset Finance & Leasing (AFL) division help fund the construction of SAG Solarstrom’s 48MW plant in Canaro, Italy and arranged the debt financing required for InfraClass Energie 5 to buy a 15.3MW system in Toledo, Spain.

“We have long-term experience in the development of plants that harness renewable energies,” said Bernd Fislage, the head of AFL at Deutsche Bank’s. “The most recent transactions in Italy and Spain show that in addition to providing long-term project financing to our clients, we can also arrange innovative financial solutions, for example, when it comes to the financing of the construction phase.”

With a capacity of just under 50MW, the Canaro plant is the third largest in Italy and is due to be connected to the grid in the coming days. Deutsche Bank contributed €83 million towards the installation of the system’s 157,500 polycrystalline modules. Meanwhile, the bank arranged debt financing to the tune of €53 million for InfraClass' acquisition of the Toledo park.