German developer Ib Vogt has reached financial close on the under-construction 54.5MW Scaldia solar farm in the Netherlands.
HSH Nordbank is providing a €41m debt facility for the project, which is located in the municipalities of Borsele and Vlissingen in Zeeland on land owned by North Sea Port.
Scaldia will supply electricity to Engie under a 17-year power purchase agreement when it becomes operational in the third quarter of this year.
Solarfields Nederland will provide technical and commercial asset management after commissioning.
Ib Vogt acquired the project in February from Solarpark Zeeland.
Ib Vogt managing director Anton Milner said: “We are very pleased to have achieved this milestone in a very complex project that involves multiple stakeholders, land owners and municipalities.
“We would like to thank our partners for their efforts in reaching the financial close that will result in the largest solar power plant in the Netherlands to date.”
HSH Nordbank energy and infrastructure director Lars Quandel said: “This financing underlines our competence to quickly familiarise ourselves with new markets and to consistently advance the expansion of our position.”
Image: impression of the Scaldis solar park (North Sea Port)
Germans flush for Dutch PV
By EBS