Avacon, SAB WindTeam to invest EUR 500m in renewables in Lower Saxony
- German energy business Avacon AG as well as project programmer SAB WindTeam GmbH have actually signed up with pressures to invest greater than EUR 500 million (USD 548.45 m) in onshore wind and solar projects in Lower Saxony.
The companions are preparing to develop five wind parks with a combined output of 410 MW in the eastern of the state and also develop a 20-MW ground-mounted solar park, Avacon said on Tuesday.
The centers are expected to produce more than 1,000 GWh of clean electrical energy each year which would certainly suffice to provide regarding 300,000 homes. The power from the parks could be made use of also for the production of green hydrogen with the aim of decarbonising industrial applications.
The very first projects are currently being prepared. Both business expect the implementation of the projects to be sped up by shorter preparation as well as approval processes for projects in the locations of renewable energy and electrical energy distribution grids.
A contract for the collaboration was signed by Avacon Natur's taking care of director Alfred Schaper as well as SAB WindTeam's handling supervisor Dirk Staats on Monday.
The development of green power is a necessary requirement for an independent and climate-neutral energy supply and also both business aim to produce a green power hub in eastern Lower Saxony which will certainly make it possible for the supply of climate-neutral energy as well as green hydrogen to the sector, according to Avacon's president Marten Bunnemann.
