June 29, 2011

Deutsche Bank facilitates the construction of a large photovoltaic power plant in southern Italy

Deutsche Bank, together with the companies EST – Energie & Solar Technik GmbH, dean Solar GmbH and Sanyo, today officially celebrated the start of operations of one of the largest photovoltaic power plants in Italy in the presence of all the project participants and numerous representatives from Italian politics and society. The photovoltaic project in Torre Santa Susanna (in the region of Apulia) has a capacity of 7.56 megawatts which is equivalent to the electricity consumption of 3,300 four-person households.

As the project manager, Deutsche Bank accompanied the project all the way from the planning stages to the start of the solar power plant’s operations. The bank’s main tasks were handling the project development, securing the power plant’s equity and debt financing, as well as providing comprehensive project management and consulting services.

Bernd Fislage, Global Head of Asset Finance & Leasing at Deutsche Bank: “We have extensive experience in developing plants that harness renewable energies. To date, Deutsche Bank has overseen more than 50 large-scale projects around the world with a total capacity of more than 850 megawatts. The majority of these projects are onshore and offshore wind parks as well as solar installations.”

The construction of the photovoltaic power plant was carried out jointly by CIET srl (construction and integration), Ideematec (supplier and installer of the tracking system) and Arcadis (owner’s engineer services). The project was financed by Unicredit Leasing, based in Italy.

Italy is one of the most dynamic photovoltaic markets in the world. The new facilities in Torre Santa Susanna cover an area of 19 hectares and produce 13,300,000 kWh of electricity annually. The solar park is equipped with solar modules from Sanyo and is managed by EST – Energie & Solar Technik GmbH (technical management) and dean Solar (commercial management). EST also acted as general contractor during the construction phase.
The investment volume of the photovoltaic park amounts to € 40 million. The turnkey project was sold to an unnamed investor who will run the facilities for 20 years.

For over ten years now, Deutsche Bank has maintained its own teams in Asset Finance & Leasing (AFL) specialized in developing projects that harness renewable energy. The teams are based in Germany, London, New York and Singapore. AFL accompanies these projects over their entire life-cycle, covering project development, short-term and long-term financing (equity and debt) as well as consulting services.

Photo: Solar Plant in Torre Santa Susanna

For additional information, please contact:

Deutsche Bank AG
Press & Media Relations   

Dr. Klaus Winker     
Phone: +49 (0) 69 910 32249  
e-mail: klaus.winker@db.com  

About Deutsche Bank

Deutsche Bank is a leading global investment bank with a substantial private clients franchise. Its businesses are mutually reinforcing. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With more than 100,000 employees in 73 countries, Deutsche Bank offers a comprehensive range of services around the world. The bank competes to be the leading global provider of financial solutions, creating lasting value for its clients, shareholders, employees and for society as a whole.

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