Hungary, Berenberg said that it is financing a solar project

German investment bank Berenberg said that it is financing a solar project in Hungary. Namely, German Greencells Group is developing the 65.2 MW Szugy solar project using finance from the Berenberg Green Energy Junior Debt Fund III, which is providing junior debt financing for the construction and commissioning phase.

The Szugy solar power plant is located in Nograd County, near the border with Slovakia, is already under construction and is expected to start operating in October 2022.

The power plant will benefit from a guaranteed feed-in tariff valid for 25 years from the day of commissioning. It will consist of 121,000 photovoltaic modules, which will generate enough electricity to meet the demand of around 22,500 households.