Blue Elephant Energy, UKA companion to establish 500MWp of solar in Germany

• Hamburg-based solar operator Blue Elephant Energy has actually signed up with pressures with renewables developer Umweltgerechte Kraftanlagen (UKA) to develop a 500MWp solar portfolio in Germany.

The portfolio consists of 11 PV projects in a sophisticated advancement stage that have capabilities in between 20MWp and also 130MWp as well as will be integrated in the states of Brandenburg, Mecklenburg-Vorpommern, Saxony as well as Saxony-Anhalt.

UKA will certainly create the plants until they get to ready-to-build condition. After building, the projects will remain part of Blue Elephant's possession portfolio. It is expected the first projects will certainly be full in very early 2023, with earnings to be safeguarded by means of long-term power purchase contracts.

While UKA has mostly been concentrated on the development as well as operation of wind farms, it has actually boosted its tasks in the solar field since 2019. Having previously offered wind projects to Blue Elephant, the current news notes the very first solar partnership in between both companies.

The bargain will certainly enable Blue Elephant Energy to "substantially increase its German portfolio in a stable and currently really eye-catching market for PV electrical power without birthing risks from project growth", said Tim Kallas, the business's primary financial investment policeman.

With a renewables portfolio of more than 1.1 GW, Blue Elephant Energy obtains and also operates solar as well as wind projects in 8 nations, including the Netherlands, Italy and Chile. It entered the Greek market earlier this year with the procurement of two solar parks completing 45MWp.

Numbers from SolarPower Europe disclose that Germany set up 4.8 GW of PV last year, more than any other European market, with its largest subsidy-free solar project, the 187MW Weesow-Willmersdorf facility developed by utility EnBW, attached to the grid in November.

As part of its nationwide energy as well as environment plan, Germany is aiming to reach 98GW of mounted solar PV ability by 2030.