Behind those plans is a $100m tax-equity fund – known as Conergy Fund I – which will initially source its debt, equity and tax-equity finance from an unnamed Fortune 500 bank in the US.

The fund will also be backed financially by Miami-based Kawa Capital Management, which last November finalised its acquisition of Conergy’s global sales and service units.

Conergy’s module factory in Germany was subsequently acquired by China’s Astonergy, while its mounting-systems plant was bought by German investor Nordwest Industrie Group.

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