Wedoany.com Report-Apr. 16, NORD/LB, a German bank, has signed a €200 million project finance agreement with AMPYR Solar Europe to advance solar and energy storage projects in Germany. The collaboration begins with the 45MW Gorgast solar cluster in Brandenburg, marking a significant step in the country’s renewable energy development.
The Gorgast cluster consists of three 15MW solar farms. One farm is already operational, while the remaining two are under construction and expected to commence operations in June 2025. Together, these facilities will feature 75,000 ground-mounted solar panels, generating clean electricity for approximately 12,000 households. Revenue will be derived from a power purchase agreement with Stadtwerke Tübingen and subsidies through Germany’s Erneuerbare-Energien-Gesetz feed-in tariff program.
The financing framework is designed to be flexible, supporting up to 250MW of additional solar and battery energy storage system (BESS) projects across Germany. This initiative aligns with Germany’s renewable energy goals, which include achieving 215GW of installed solar capacity by 2030 and 400GW by 2040.
Corinna Tiesch, director at NORD/LB, stated: “Solar power is a foundational pillar of the renewable energy mix, and we look forward to working with AMPYR Solar Europe in developing future projects that drive the country’s PV ambitions.” The partnership reflects a shared commitment to expanding clean energy infrastructure.
Tarun Agrawal, CEO of AMPYR Solar Europe, said: “This facility will allow AMPYR Solar Europe to bring the Gorgast cluster to market and will support the construction and operation of a further 200MWp German solar PV and BESS pipeline in the near future.” The agreement strengthens AMPYR’s ability to deliver sustainable energy solutions in Germany.
The Gorgast cluster contributes to Germany’s clean energy objectives by providing reliable, renewable power to local communities. The project’s combination of operational and upcoming solar farms demonstrates progress toward meeting the nation’s ambitious solar capacity targets.
This collaboration between NORD/LB and AMPYR Solar Europe underscores the importance of financial partnerships in advancing renewable energy. The flexible financing model ensures continued growth in Germany’s solar and storage sectors, supporting the transition to a sustainable energy future.
