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.
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