German bank NORD/LB has agreed a €200 million project finance framework with AMPYR Solar Europe to support the development of solar and energy storage projects across Germany, beginning with the 45-megawatt (MW) Gorgast solar cluster in Brandenburg.
The Gorgast development includes three 15MW solar farms. One site is already operational, while the remaining two are under construction and expected to be commissioned by June 2025. In total, the cluster will feature around 75,000 ground-mounted panels, supplying clean electricity to approximately 12,000 households.
Revenue from the project will be generated through a combination of a Power Purchase Agreement (PPA) with Stadtwerke Tübingen and support under Germany’s Renewable Energy Sources Act (Erneuerbare-Energien-Gesetz, EEG) feed-in tariff system.
The financing structure will also enable AMPYR Solar Europe to advance up to 250MW of future solar and battery energy storage system (BESS) projects across the country.
“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,” said Corinna Tiesch, director at NORD/LB.
Tarun Agrawal, CEO of AMPYR Solar Europe, welcomed the agreement. “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,” he said.
Germany is targeting 215GW of installed solar capacity by 2030 and 400GW by 2040 as part of its national energy transition strategy. The Gorgast cluster is expected to contribute to these goals by expanding renewable generation capacity and supporting local clean energy supply.
