Encavis AM and Commerzbank finalize financing for solar farm

Encavis Asset Management AG and Commerzbank AG conclude financing for the Bartow project, Germany's second-largest solar park with a total capacity of 260 MW, due for completion in 2025.

Share:

Financement du parc solaire Bartow

Encavis Asset Management AG (Encavis AM) and Commerzbank AG (Commerzbank) announced today that they have closed the financing for the Bartow project, a solar park that will become the second largest in Germany.
The park, located in the municipality of Bartow, around 150 kilometers north of Berlin in the German state of Mecklenburg-Vorpommern, will have an installed capacity of 260 MW.
Total financing of €145 million is being provided by Commerzbank, a major player in the financing of renewable energy projects in Europe.
The Encavis Infrastructure Fund IV (EIF IV), whose subscriptions are open via BayernLB, is providing the necessary equity.
The project incorporates a significant proportion of green electricity production, which will be sold to LyondellBasell (NYSE: LYB) through a 12-year power purchase agreement (PPA).
The first phase of construction began in March 2024, and the project is scheduled for completion by the end of 2025.
This development is part of ongoing efforts to support Germany’s energy transition and increase the country’s renewable energy production capacity.

Successful collaboration for a large-scale project

Przemyslaw Damps, Head of Project Finance Origination at Commerzbank, emphasizes that support for this project reflects the bank’s commitment to innovative initiatives in the renewable energy sector.
The challenges of structuring the PPA and securing the land were resolved through close cooperation between Commerzbank and Encavis AM teams.
This collaboration highlights the importance of partnerships in financing large-scale projects and their contribution to the energy transition.
Encavis AM, a subsidiary of Encavis AG, has accumulated extensive experience in the field of renewable energies since 2006.
The Encavis Group is renowned for its investments in wind and solar farms in Europe, with a total capacity of over 3.5 GW.
This expertise, combined with the support of Commerzbank, makes it possible to bring to fruition large-scale projects such as Bartow.
Stern Energy S.p.A., also a member of the Encavis Group, provides technical know-how for the construction and maintenance of photovoltaic systems throughout Europe.

Outlook and impact for the industry

The Bartow solar park represents a significant development for the renewable energy market in Germany.
Its 260 MW production capacity will make a substantial contribution to reducing CO2 emissions, in line with the country’s energy transition objectives.
The long-term sale of electricity via the PPA with LyondellBasell reinforces the project’s financial stability and ensures its seamless integration into the energy grid.
This project illustrates the crucial role of financial partnerships in supporting sustainable energy initiatives.
The successful financing of the Bartow solar park demonstrates the ability of financial institutions to support large-scale projects while contributing to the global energy transition.

Emerging economies from the BRICS group now account for more than half of global solar electricity production in 2024, driven mainly by China, India, and Brazil, according to a new report by the organisation Ember.
Star Trade, a subsidiary of HD Renewable Energy, has signed a power purchase agreement with Lightsource bp to manage electricity distribution from a 115 MWp solar project located in Chiayi, strengthening their presence in the Taiwanese market.
TotalEnergies will develop a 1.8 MW photovoltaic installation for Daehwa Pharmaceutical, covering approximately 20% of the annual energy requirements of the production site located in Hoengseong-gun, South Korea, under a 20-year agreement.
Quinbrook Infrastructure Partners announces full operational launch of Cleve Hill Solar Park, now becoming the largest active photovoltaic power plant in the United Kingdom with a total installed capacity reaching 373 MW.
European photovoltaic module manufacturer BISOL is integrating G12R solar cells into its product range, replacing the former M10 cells, to improve product performance and technological competitiveness starting from the second quarter of 2025.
Adani Green Energy Limited becomes the first Indian company to achieve 15,539.9 MW of operational renewable capacity, cementing its position among the global top 10 independent green power producers.
Italian group Pronur establishes itself in Saudi Arabia with support from AstroLabs, aiming to provide advanced technologies in the renewable energy sector and develop new industrial partnerships.
Ascent Solar Technologies, Inc. announces the launch of a $2mn public offering to finance working capital, product development and general expenses.
Ardian Clean Energy Evergreen Fund takes control of 117 photovoltaic plants totalling 116 MW in Italy, further consolidating its presence in the country’s renewable energy sector.
Zelestra has secured $282mn financing from Natixis CIB, BNP Paribas and BCI for its Aurora project, combining a 220 MWdc solar plant and 1 GWh storage capacity in the Tarapacá region, Chile.
Egypt has been building an industrial photovoltaic solar complex in Ain Sokhna since June 19, aiming to stimulate strategic local production with a total investment of $200 million funded by the Chinese group Sunrev.
Générale du Solaire has inaugurated in Leutenheim, Bas-Rhin, a floating photovoltaic plant of approximately 20 MWc installed on a former gravel pit, marking the region's first large-scale project supported by successful local participatory funding.
Plenitude and Modine have signed an agreement to build a photovoltaic plant with an installed capacity of 1.585 MWp in Pocenia, designed to power thermal and refrigeration equipment at Modine’s Italian industrial site, without initial investment.
Namibia begins construction of its largest solar plant, Sores|Gaib, aiming to reduce dependence on energy imports by leveraging its solar potential, considered among the highest globally according to the World Bank.
Bangladesh’s interim government has ordered mandatory deployment of solar systems on public building rooftops to reduce reliance on costly fossil fuel imports amid a fragile economic backdrop.
The Energy Progress Report 2025 shows an improvement in global electricity access to 92%, but highlights that 666 million people remain without electricity, particularly due to insufficient international funding for rural areas.
Estimated at $384.4mn in 2025, the global photovoltaic panel recycling market is expected to grow annually by 7.4%, reaching $548mn in 2030, driven by the rapidly increasing number of installations reaching end-of-life.
Estimated at $613.57bn in 2025, the global photovoltaic market is expected to reach $968.32bn by 2030, driven by declining costs and growing demand from residential and utility sectors, according to a MarketsandMarkets analysis published on June 26.
Sasol International Chemicals concludes a virtual contract with Akuo to supply half of the electrical needs for its Lake Charles industrial complex in the United States, via a solar plant scheduled for 2026.
Eurowind Energy initiates a €174.8mn investment to build a 220 MW solar park in Vișina, Romania, capable of supplying around 150,000 households annually.