Encavis Asset Management AG (Encavis AM) and Commerzbank AG (Commerzbank), both Germany-based entities, have finalized financing for the 260 MW Bartow solar project, which will become Germany’s second-largest solar facility. Located about 150 kilometers north of Berlin, this solar park is part of the Encavis Infrastructure Fund IV (EIF IV). According to Encavis AM, the project’s financing, totaling approximately EUR 145 million, is provided by Commerzbank, a key player in renewable energy financing in Germany and Europe. Encavis Infrastructure Fund IV has supplied the necessary equity for construction, which began in March 2024 and is expected to be completed by late 2025. Most of the electricity generated will be sold to LyondellBasell under a 12-year PPA. The project has successfully navigated PPA structuring, market pricing, and land acquisition challenges, highlighting effective collaboration between Commerzbank and Encavis AM, says Commerzbank.
Financing completed for Bartow’s 260 MW solar park
Most of the electricity from Bartow solar park will be sold to LyondellBasell under a 12-year PPA. (Image Credit: Pixabay)
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Part of SECI’s 2 GW ISTS initiative, the project will deliver four hours of peak power daily for 25 years. (Image Credit/Source: Pixabay/Pexels)
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