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Conergy Gets $60 Million Bank Guarantee to Expand Solar Business

Conergy Group, a German solar developer, got a $60 million bank guarantee to finance its growing solar-energy project business.

The facility was arranged by Deutsche Bank AG and financed by Tennenbaum Capital Partners LLC, according to an e-mailed statement today from Conergy, a unit of U.S. private equity firm Kawa Capital Management Inc. Conergy in the first half had about three times as many solar plants under development, construction or management than in the same period last year, it said.