KfW IPEX-Bank finances world's second largest photovoltaic power plant in Brandenburg

Frankfurt am Main (ots) - Together with four other banks, KfW
IPEX-Bank is financing the world's second largest - and Germany's
largest - photovoltaic power plant in Turnow-Preilack, Brandenburg.
In the former military training area of Lieberose north of Cottbus,
the project developer juwi from Rheinland Palatinate and the solar
module manufacturer First Solar are busy constructing the power
plant, which will have an overall output of 53 MWp and will occupy an
area of 162 ha. The plant will generate some 53 million kWh of
environmentally friendly electricity each year, enough to supply
around 15,000 households.

The debt capital of up to EUR 130 million (depending on the final
overall capacity) will be provided by a syndicate of banks under the
lead management of KfW IPEX-Bank and under participation of NORD/LB,
DZ Bank, Helaba and Bremer Landesbank. KfW IPEX-Bank will be
providing around one third of the volume. The total term is 18 years.
The relevant agreements were signed a few days ago. The long-term
financing also includes funds from the promotional programmes of the
European Investment Bank and KfW Bankengruppe.

The plant will be equipped with thin-film modules supplied by the
German subsidiary of market leader First Solar in Frankfurt/Oder. The
plant is scheduled for completion by the end of 2009. Over 20 years
the project will benefit from guaranteed feed-in tariffs under the
Renewable Energies Act.

The photovoltaic power plant at Turnow-Preilack is under
construction on the site of a former contaminated military training
area, which is to be restored to its natural state after its use for
solar power generation. The financing of projects in the area of
renewable energies is an integral part of the range of offerings of
KfW IPEX-Bank and contributes to protecting the environment and the
climate.

About KfW IPEX-Bank GmbH

Within KfW Bankengruppe KfW IPEX-Bank GmbH provides project and
corporate financing as well as trade and export financing
domestically and abroad. Worldwide it conducts all market activities
of KfW Bankengruppe that are carried out on commercial terms. KfW
IPEX-Bank GmbH has been operating as a legally independent subsidiary
since 1 January 2008 and contributes significantly to the promotional
mission of KfW Bankengruppe. It has approx. 490 employees (as of
April 2009) and is represented in the key economic and financial
centres around the globe.

Originaltext: KfW-IPEX-Bank
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Contact:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: dela.strumpf@kfw.de
Tel. 069 7431-2984, Fax: 069 7431-9409, E-Mail:
info@kfw-ipex-bank.de, Internet: www.kfw-ipex-bank.de