Blue Elephant Energy has closed project financing with Commerzbank for the 268MWp Schafhöfen solar park in Bavaria.
Commerzbank is acting as sole debt provider for the project in the district of Regensburg, Blue Elephant Energy said.
The ground-mounted installation will be built in the municipality of Mötzing and is scheduled for full commissioning by September 2027, the company added.
The project is described as Germany’s second-largest solar park and the largest PV project in Bavaria.
The 268MWp installation is expected to generate around 300GWh of electricity annually.
A substantial share of the output has been contracted under a long-term PPA with DB Energie to supply Deutsche Bahn’s traction network.
“The financing of our solar park together with Commerzbank is a significant milestone for our company.” said Dorothee Klinkmann, chief financial officer of Blue Elephant Energy.
“This project not only underscores our commitment to the expansion of green energy but also demonstrates the strength of our partnerships.”
“We are delighted to support our client Blue Elephant Energy in this significant project.” said Jens Taubken, relationship manager green infrastructure finance at Commerzbank.
“In doing so, we reaffirm our commitment to actively advancing the expansion of renewable energy through innovative financing solutions.”