Field-tested
The 10-MW Bavaria Solarpark—christened by PowerLight Corp. (Berkeley, Calif.), Deutsche Structured Finance, and the other project partners (see table) on June 30, 2005—is the world's largest grid-connected PV system, at least for now (see sidebar). The system consists of three individual parks in the cities of Mühlhausen, Günching, and Minihof. With 6.3 MW in Mühlhausen (Figure 2) and 1.9 MW each in Günching and Minihof, the project cost about $62.5 million to construct, based on current currency-conversion rates. That works out to a whopping $6,250/kW of capacity.

Key contributors to Bavaria Solarpark. Source: PowerLight Corp.

2. Bucolic Bavaria. The 6.3-MW Mühlhausen Solarpark under construction. Courtesy: PowerLight Corp.
The 57,600 PV panels spread over 62 acres were erected on bucolic Bavarian fields, where herds of grazing Moorland sheep keep the grass short under the panels. Extensive planting enhanced the integration of the project site into the surroundings. Rumor has it that there's a job opening for a shepherd at one of the plants.
PowerLight, which designed, developed, and built the entire system on a turnkey basis, also is responsible for servicing it. That's important, because the system uses the company's patented PowerTracker technology to follow the sun, maximizing solar "insolation" and output (Figure 3). The photovoltaic modules themselves come from Sharp Electronics. Siemens AG provided all electrical construction and equipment, including inverters. Interconnection to the electrical grid was provided by the regional German utility E.ON.

3. Solar sea. Banks of PV panels are vertically tracked against the path of the sun, maximizing solar energy collection, or "insolation." Courtesy: PowerLight
Given how far north the system is, it's not surprising that 76% of its annual production takes place between April and September. Plant data from January to September 2005 confirm that the tracking system exposes the panels to 33% more solar insolation than horizontal systems, and to 15% more solar insolation than fixed, 30-degree tilt systems. The plant became 100% operational in December 2004, and it has been 100% reliable during all daylight hours since.
Win-win for investors, Europe
Bavaria Solarpark was financed by Solar Energy Fund Bavaria, a closed fund in which private investors can still take shares. Under the REL, the fund benefits from a legally fixed payment for produced power.
"Solar electricity is an important and highly reliable source of power," said Janine Schellhorn, chief managing director of Deutsche Structured Finance. "Well-structured solar energy projects offer investors a solid opportunity with interesting after-tax yields. Additionally, they contribute to a sustainable energy future and environmental protection."
"Over the next 20 to 30 years, the Bavaria Solarpark will generate hundreds of millions of kilowatt-hours of electricity with zero emissions," added Tom Dinwoodie, CEO of PowerLight. "We look forward to developing more partnerships across Europe to meet increasing demand for solar power."