Masdar PV secures loan for 11.7 MW solar photovoltaic park in Germany

Masdar PV, which manufactures thin-film solar photovoltaic (PV) modules, has secured a 17-year loan to finance one of Thuringia's largest thin-film solar PV parks. The lending consortium led by Ostsächsische Sparkasse Dresden and the Sparkasse Gotha provided the loan.

The plant is located near Masdar PV's production premises in Ichtershausen, Germany. The solar park, which has an installed capacity of 11.7 MW, covers an area as large as 40 football pitches. The ground-mounted solar park's annual yield of 10.8 million kilowatt hours is enough to provide power for around 3,400 households. The solar park offsets about 6,400 tons of carbon dioxide emissions a year, which is the same as taking more than 2,000 medium-sized cars off the roads.

The 17-year loan was secured at very competitive rates, and serves as a benchmark for Masdar PV's microcrystalline photovoltaic technology. Alongside Ostsächsische Sparkasse Dresden and the Sparkasse Gotha, Sparkasse Jena and Sparkasse Mittelsachsen participated in the financing. (Excerpt from AltEnergyMag Press Release)


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