NORD/LB has agreed a €200 million project finance framework with AMPYR Solar Europe to support solar and storage development in Germany, starting with the 45MW Gorgast solar cluster in Brandenburg.
The Gorgast cluster comprises three 15MW solar farms. The first is operational, while the other two are under construction and due to go live in June 2025. Combined, the facilities will feature 75,000 ground-mounted panels and provide clean electricity to around 12,000 homes.
Revenue will come from a mix of Power Purchase Agreement with Stadtwerke Tübingen and support under the Erneuerbare-Energien-Gesetz feed-in tariff. The flexible finance framework will also support up to 250MW of future solar and battery storage projects across Germany.
Corinna Tiesch, director at NORD/LB, said: “Solar power is a foundational pillar of the renewable energy mix, and we look forward to working with AMPYR Solar Europe in developing future projects that drive the country’s PV ambitions.”
Tarun Agrawal, CEO of AMPYR Solar Europe, said: “This facility will allow AMPYR Solar Europe to bring the Gorgast cluster to market and will support the construction and operation of a further 200MWp German solar PV and BESS pipeline in the near future.”
Germany aims to reach 215GW of installed solar by 2030 and 400GW by 2040. The Gorgast cluster will contribute to achieving those targets.
