SOLAR PV POWER PLANT FOR GERMANY

First Solar Secures Financing for 53 Megawatt Solar Power Plant in Germany; Former Military Land Being Remediated, Converted to Renewable Energy Resource
April 21, 2009 (Business Wire)

"First Solar, Inc. and Juwi Holding AG… have secured financing for a 53 megawatt (MW) DC photovoltaic (PV) power plant near the German city of Cottbus.

"More than 80 percent of the required project capital is financed through non-recourse debt from a consortium of banks. First Solar and Juwi intend to sell the majority of the project after its completion. Construction of the project began in January 2009, and the first 15MW have been completed. The remaining 38MW are scheduled to be completed by the end of 2009."

Bird's eye view of the Waldpolenz Solar Park from First Solar and Juwi. (click to enlarge)

"The project is being constructed on 162 hectares of land that is part of the Soviet Army’s former 26,000 hectare Lieberose training area north of Cottbus in eastern Germany. The project’s low cost enables the required return to fund an attractive land lease for the State of Brandenburg. The lease, in turn, finances the environmental cleanup of this former military zone, which is littered with tons of land mines, grenades and other munitions. Matthias Platzeck, minister president of the German state government of Brandenburg, where Lieberose is located, said the project is a model for the conversion of former military land to productive use…"

Ground level view of the Waldpolenz Solar Park from First Solar and Juwi. (click to enlarge)

"Upon completion, the PV power plant will consist of approximately 700,000 modules and is projected to be the largest in Germany—producing enough power to provide for the annual electricity needs of more than 14,000 homes—and the second largest worldwide…

"First Solar, Inc. manufactures solar modules with an advanced semiconductor technology and provides comprehensive PV solutions… at competitive prices…First Solar PV power plants operate with no water, air emissions or waste stream….The Juwi Group…[focuses on] solar power and bioenergy… wind and water power, and geothermal energy. To date, Juwi has installed more than 300 wind turbines…[with an] output of over 450 MW…[and] set up around 800 PV systems with a total capacity of more than 220,000 KW…"