New HSH Nordbank solar project in France

Long-term finance for 12 MWp solar park in Gironde region

Hanburg/Kiel, November 8, 2012 - This year HSH Nordbank has once again successfully obtained an order to finance renewable energy projects in France: The Bank has assumed the long-term financing of the "Solarpark de Béguey" with an output totalling around 12 MWp for the Hamburg investor Luxcara Advisory GmbH.

These systems are part of an overall project with a total of 24 MWp developed by the French utility EDF Energie Nouvelles. The finance amounts to about EUR 35 million.

The solar park, which is situated in the municipality of Saint Symphorien (Gironde region) in the south-west of France, has already been installed. The project uses proven technology and high-quality components from First Solar and SMA. The photovoltaic systems have been producing electricity since the middle of last year. HSH Nordbank has maintained business relations with LUXCARA, an asset manager specialising in investments in energy infrastructure, for some time.

"France is and remains an important market for us, precisely for projects in the solar sector," says Lars Quandel, Head of Renewable Energy at HSH Nordbank. At present, HSH Nordbank is financing almost 180 renewable energy projects with a total volume of around three billion euros. Of this figure, around 60 percent are accounted for by wind energy projects and 40 percent by solar facilities. This year the Bank is planning new business in the area of renewables amounting to between 700 million and one billion euros.

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