Blue Elephant acquiring 4 MW of Italian solar parks

• German solar and wind farm operator Blue Elephant Energy AG has actually sealed an offer to obtain a 4-MW solar park portfolio in Italy in an action that will certainly enhance its overall set up capacity in the country to 72 MW.

The Hamburg-based firm will acquire numerous photovoltaic (PV) parks, it said on Thursday without disclosing the worth of the purchase. The offer's closing undergoes normal conditions criterion and is anticipated to happen in the second quarter.

Found in Northern Italy, the plants have been generating power considering that 2011. As soon as the modification in their ownership has actually been settled, Blue Elephant plans to revamp the sites so regarding prolong their life by another 30 years. The project will include updating the systems with the most up to date modern technologies as well as replacing their fixed-tilt framework with solar trackers. The effort is expected to increase the power result by over 30%, the German firm estimates.

"The portfolio in Italy enables us to take advantage of new market opportunities in the specific niche of overhauling and also to more develop ourselves in the competitive Italian market," stated Tim Kallas, chief investment police officer of Blue Elephant.

Currently, Blue Elephant is servicing the development of more than 378 MW of solar PV projects in Italy.