Blue Elephant, companion to include over 300 MWp of solar in Germany
- German solar and wind ranch operator Blue Elephant Energy AG claimed today it has protected land to build over 300 MWp of solar parks in Germany along with a veteran companion.
Via the partnership, the Hamburg-based company intends to implement a dozen photovoltaic (PV) projects in its house market, anticipating to have the initial ones in operation early in 2023. According to a bourse declaring, it has actually signed a participation arrangement on possible sites completing 300 ha to accommodate the capability.
Blue Elephant's role in the partnership will certainly concentrate on structuring financing, discussing power acquisition agreements (PPAs) as well as knowing the projects. The business will be the portfolio's majority owner.
"With this partnership, BEE can substantially expand its German portfolio in a secure and currently extremely eye-catching market for PV electricity," claimed Tim Kallas, chief financial investment policeman at Blue Elephant.
The recommended solar parks, of in between 10 MWp as well as 50 MWp each, will certainly generate power that will be enough to provide 120,000 residences per year, as soon as up and running. The bulk of the capacity is readied to bring revenues via long-term PPAs, while some will certainly be subsidised under Germany's Renewable Energy Act (EEG).
Presently, Blue Elephant operates 1,107 MW of renewable energy properties, some still incomplete.