S.A.G. Solarstrom secures €40 million PV financing

Deutsche Bank has agreed to finance €40 million worth of photovoltaic projects for S.A.G. Solarstrom AG. They are expected to be executed in 2013 and 2014 in Germany.

In 2012, Deutsche Bank financed €65 million worth of S.A.G.’s project plans. At the time, the company said it said it would use the funds to implement projects worth up to 60 MWp in Germany.

A spokesperson for S.A.G. Solarstrom could not disclose how much was installed in 2012. However, it will be more than the 100 MWp installed in 2011. Additionally, the majority of the new volume was added in Germany, due to "uncertain financing conditions etc. in southern Europe."

Again, the company was keeping tight lipped over its 2013/2014 pipeline. The spokesperson did tell pv magazine that it intends to add more capacity than in the previous years. They added, "We expect the percentage of projects abroad to increase again significantly." Work will begin in Q2.

Commenting on today’s €40 million financing news, S.A.G. Solarstrom said in a statement, "Due to the drop in system prices on the market, projects of a comparable size as last year can be implemented with this project planning framework."

The spokesperson added that photovoltaic system prices for systems up to 10 kWp are €1.684/kWp, according to the Bundesverband Solarwirtschaft. "You can expect larger systems in the MWp range to be considerably less than that," they concluded.