Europe’s Biggest Solar Park Completed With Russian Bank Debt
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Europe’s biggest solar park was completed today after its Vienna-based developer, Activ Solar GmbH, obtained financing from two Russian banks.
Activ Chief Executive Officer Kaveh Ertefai said his company finished building the 100-megawatt photovoltaic plant in Perovo in the Crimea with funding from Moscow-based VTB Bank OJSC and Sberbank of Russia. A project of this size typically costs about 300 million euros ($387 million), he said.