First Solar Gets Financing For Germany's Largest PV Plant


First Solar (FSLR) and Juwi Holding AG, secured financing to continue construction of Germany’s largest solar power plant, a 53 MW project in northeast Germany.

The financing comes through non recourse debt from a consortium of banks according to the release. Non-recourse debt requires that the lender receive collateral, typically real estate.

First Solar and Juwi intend to sell the project once it is completed. They’ve already finished the first 15 MW of the job. It will use 700,000 panels and produce enough energy to power 14,000 homes.

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.