The project is being constructed on a turnkey basis by solar-konzept GmbH, based in Hamburg. The construction phase of the 11,04 MWp project has already begun. Start of operation is planned for spring 2022. The project revenues will mainly be generated from a Power Purchase Agreement(PPA) concluded with Axpo Solutions AG for a term of 10 years.
The project was awarded in the first round of the EEG innovation tender by the German Federal Network Agency. The special feature of these innovation tender projects is their hybrid form of marketing. The electricity is marketed within the framework of subsidised direct marketing to claim the fixed market payment in accordance with the Innovation Tender Ordinance. This market payment is combined with payments from long-term power purchase agreements (PPAs). In particular, the present attractive price level for long-term power purchase agreements ensures robust economic viability. The financing of this innovative model is provided by Deutsche Leasing Finance GmbH with the integration of KfW funds.
Obton was supported in the acquisition of the project, financial engineering and the negotiations of the PPA by Bankhaus von der Heydt in Munich with the team led by Dr. Ralf Beckmann. Legal advice was provided by the law firm Buse.
„Die DAL hat mit einer innovativen Finanzierungsstruktur dazu beigetragen, dieses Vorhaben wirtschaftlich überhaupt umsetzen zu können."
Nicky Larsen, Director of Business Development, Obton A/S
Nicky Larsen, Director of Business Development, Obton A/S: „The PPA with Axpo that has now been realised can serve as a template for further projects thanks to the constructive work of all partners involved. With its innovative financing structure, DAL has contributed to making this project economically feasible. This opens the doors to economies of scale for such combined projects in the area of EEG and PPA as well as pure PPA projects.“
Dr. Peer Günzel, Sales Head Infrastructure & Utilities, DAL : „We are pleased that we were able to support our client Obton in entering in PPA projects in Germany. In structuring the financing, DAL was able to benefit from its specific project experience with PPAs. We want to further expand our marketleading position and look forward to more exciting projects in this field."
Antje Gruber, Senior Project Manager, DAL: „For the Klatzow solar project, it was also necessary to bring financing and useful life into accord. Since power purchase agreements can currently be contracted with a maximum term of 10 years,it is important to keep an eye on the developments of the technologydependent capture prices during the financing term of 20 years. This is where our long-standing expertise as an asset financier and industry expert in the energy segment works to our and our partners advantage.“
