Apr 15, 2025
NORD/LB finalizes €200 million agreement for German solar energy.
NORD/LB has established a €200 million project finance framework with AMPYR Solar Europe to facilitate solar and storage development in Germany, beginning with the 45MW Gorgast solar cluster in Brandenburg.
The Gorgast cluster consists of three 15MW solar farms, with the first already operational and the other two expected to be completed by June 2025. Together, these facilities will include 75,000 ground-mounted panels and supply clean electricity to approximately 12,000 homes.
Revenue will be generated through a combination of a Power Purchase Agreement with Stadtwerke Tübingen and support from the Erneuerbare-Energien-Gesetz feed-in tariff. The flexible finance framework will also enable up to 250MW of future solar and battery storage projects throughout Germany.
Corinna Tiesch, director at NORD/LB, remarked, “Solar power is a foundational pillar of the renewable energy mix, and we look forward to collaborating with AMPYR Solar Europe on projects that advance the country’s PV goals.”
Tarun Agrawal, CEO of AMPYR Solar Europe, stated, “This facility will enable AMPYR Solar Europe to launch the Gorgast cluster and support the development and operation of an additional 200MWp German solar PV and BESS pipeline in the near future.”
Germany has set a goal of achieving 215GW of installed solar capacity by 2030 and 400GW by 2040, with the Gorgast cluster playing a role in reaching these objectives.
The Gorgast cluster consists of three 15MW solar farms, with the first already operational and the other two expected to be completed by June 2025. Together, these facilities will include 75,000 ground-mounted panels and supply clean electricity to approximately 12,000 homes.
Revenue will be generated through a combination of a Power Purchase Agreement with Stadtwerke Tübingen and support from the Erneuerbare-Energien-Gesetz feed-in tariff. The flexible finance framework will also enable up to 250MW of future solar and battery storage projects throughout Germany.
Corinna Tiesch, director at NORD/LB, remarked, “Solar power is a foundational pillar of the renewable energy mix, and we look forward to collaborating with AMPYR Solar Europe on projects that advance the country’s PV goals.”
Tarun Agrawal, CEO of AMPYR Solar Europe, stated, “This facility will enable AMPYR Solar Europe to launch the Gorgast cluster and support the development and operation of an additional 200MWp German solar PV and BESS pipeline in the near future.”
Germany has set a goal of achieving 215GW of installed solar capacity by 2030 and 400GW by 2040, with the Gorgast cluster playing a role in reaching these objectives.