A fund managed by SolarKapital has acquired a photovoltaic solar power plant on the French island of Corsica near Ajaccio. The plant has a nominal capacity of 2.2 MWp and has been grid-connected since February 2012. It uses more than 10,000 crystalline modules supplied by Schott Solar and inverters provided by SMA. The power plant generates sufficient energy to supply more than 10,000 households with clean electricity. Currently, most of the energy supply is provided by burning diesel.The transaction volume is about EUR 10m. The seller is a joint venture founded, among others, by Schott Solar AG. Long-term debt has been provided by SaarLB. Bryan Cave has been legal advisors of SolarKapital.

    „The power plant is subject to the French feed-in tariff and we consider it to be an attractive investment and an up-grade and diversification of our existing solar portfolio on islands“ says Tobias Engelhardt, Managing Partner of SolarKapital. Already since 2010, the group operates several solar power plants on Crete and Rhodes with a nominal capacity of about 1 MWp. Andreas Leimbach, also Managing Partner of SolarKapital adds: „We consider the decentral generation of solar energy on touristically frequented islands to be a particularly good fit with promising returns“.
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