German asset management company Luxcara has achieved financial close for its Tramm-Göthen solar farm with direct banking firm UmweltBank.

Currently under construction, Tramm-Göthen is located in the municipalities of Tramm and Lewitzrand in the state of Mecklenburg-Western Pomerania.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The solar farm has a planned capacity of more than 171MWp and is said to be Germany’s largest independent solar photovoltaic (PV) project.

It is owned by renewable energy funds for institutional investors advised by Luxcara, which acts as the asset manager.

Luxcara managing partner Alexandra von Bernstorff said: “We are delighted to continue our collaboration with UmweltBank and look forward to further supporting Germany’s energy transition.

“This transaction demonstrates, once again, that our proven strategy to acquire, structure and finance power purchase agreement (PPA) based renewable energy projects is a sustainable and economically attractive investment proposition for institutional investors.”

UmweltBank has offered financing in the mid-double-digit million region for the solar farm while renewable energy funds advised by Luxcara provided the equity for the project.

These funds will be used to support the ongoing construction works, with the solar facility expected to become operational in the first quarter of this year.

Once operational, the clean energy generated by the facility will be sold under a ten-year PPA.

UmweltBank Board member Goran Bašić said: “The Tramm-Göthen solar farm is another milestone on Germany’s way to energy transition and a lighthouse project of UmweltBank’s loan book.

“The project shows, once more, that our tailor-made financing solutions for PPA projects are well-received on the market.”

In November 2020, Luxcara acquired a 172MW solar farm from solar power developer Belectric in Germany.

The facility is located in Mecklenburg-Western Pomerania and features 420,000 PV modules.

It is Luxcara’s largest photovoltaic project in the country not to be owned by a utility.