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Clenergy Reaches Financial Close and Issues NTP for 65MWp Solar Project in Germany

Clenergy Reaches Financial Close and Issues NTP for 65MWp Solar Project in Germany

Clenergy has successfully closed EUR 41 million of financing for its 65MW solar farm power project in Ganzlin, Germany and issued Notice-To-Proceed (“NTP”) to GP Joule (PV EPC) and Energiequelle (HV EPC). The project is being financed by Norddeutsche Landesbank (“Nord/LB”).

Daniel Ruoss & Gerrit Schmidt

Execution of Finance Document / Daniel Ruoss, General Manager Clenergy (left) & Gerrit Schmidt, Director Nord/LB (right)

 “We are very pleased to achieve this important milestone for our Global Project Business and we thank Nord/LB and the Council of Ganzlin for their support” commented Daniel Hong, Chief Executive Officer of Clenergy. “Construction has already begun at the site, creating new economic opportunities for businesses and families in the local region,” Mr Hong said.

Soil Turning Event in wet conditions on 16th Oct 2019 

65MWp Solar Project in Ganzlin Germany-Soil Turning Event

from left: Daniel Ruoss, General Manager Clenergy & Gerrit Schmidt, Director Nord/LB & Jens Tiemer, Mayor of Ganzlin Council & Maik Gessner, EPC Director GP Joule

The 65MW solar power project is located in Ganzlin, Mecklenburg-Vorpommern, Germany. With the 20-year Germany government-backed FiT contract in place, the project is expected to reach Commercial Operations Date (“COD”) in May 2020.

65MWp Solar Project in Ganzlin Germany-Site Image 2

Clenergy’s General Manager Daniel Ruoss said “the solar farm project will employ around 50 people during construction and Clenergy has appointed GP Joule for the engineering, procurement and construction (“EPC”) of the solar farm and Energiequelle for the HV EPC works. Clenergy has issued to both contractors NTP and we’re collaborating closely with local stakeholders to maximise the benefits for the region and communities. Greentech is contracted as O&M Service Provider taking over the site after COD is reached.

A big thank you goes to our local team in our Hamburg office, who succeeded to turn a disused mining site into a perfect site for solar electricity generation, allowing upon completion nearly 19,000 local homes to be powered by sustainable electricity from our solar farm. This solar farm will become a milestone project in Germany; with over 1,600 million tonnes of soil & sand moved during the civil work stage and the connection 25km from the site in Lutheran.