18 July 2013 – Masdar PV has secured a 17-year loan to finance a large thin-film solar PV park on Thuringia. The lending consortium led by Ostsächsische Sparkasse Dresden and the Sparkasse Gotha provided the loan.
The plant is located near Masdar PV's production premises in Ichtershausen, Germany. The solar park, which has an installed capacity of 11.7MW, covers an area of 40 football pitches. The ground-mounted solar park's annual yield of 10.8 million kilowatt hours is enough to provide power for around 3,400 households. The solar park offsets about 6,400 tons of carbon dioxide emissions a year, which is the same as taking more than 2,000 medium-sized cars off the roads.
The 17-year loan was secured, and serves as a benchmark for Masdar PV's microcrystalline photovoltaic technology. Alongside Ostsächsische Sparkasse Dresden and the Sparkasse Gotha, Sparkasse Jena and Sparkasse Mittelsachsen participated in the financing.