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The European Investment Bank Loans $54 Million to Thin Film Solar

December 17, 2008
Source: New Energy Finance

The European Investment Bank (EIB) will provide a 40 million euros ($54m) loan to module producer Thin Film Solar Technologies for the construction of a production plant in South Africa.

The plant, to be located in the city of Paarl in South Africa, will have a capacity of 30MW of thin-film modules per annum. The modules will be based on the copper, indium, gallium, sulphur and selenium technology, popularly called CIGSSe, which was developed by the Johannesburg research team, a statement said.

The company is backed by locally-based chemicals and fuels group Sasol and the University of Johannesburg. It has also signed a public-private partnership with the government of South Africa for the commercialisation of its modules.

The EIB is providing the loan under its Structured Finance Facility. The SFF was established in 2001 to enable the bank to support projects with a higher risk profile than normally assumed by the EIB.