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German savings banks eclipse Deutsche on solar funds
May 4, 2009 by Claudia Rach and Jeremy van Loon in Bloomberg News
May 4, 2009 by Claudia Rach and Jeremy van Loon in Bloomberg News
German savings banks are handing out more loans to renewable-energy projects as corporate rivals retreat from financing the world's biggest solar-panel market.
The 438 savings banks financed 45 percent of the 5.3 billion euros ($7 billion) invested in solar and wind power projects in 2008, while loans from major corporate lenders including Deutsche Bank AG shrank to 0.8 percent.