Commerz Real acquires 50MW agrivoltaic project

• Bank claims acquisition makes these sort of solar power projects accessible to private investors

Commerz Real has actually acquired a 50MW agrivoltaic project for its Klimavest effect fund.

Found near Berlin, the park is to commence operations in 2025.

The vendor and participation partner is Elysium Solar, a joint venture in between EIC Partners from Zurich and LBD-Beratungsgesellschaft from Berlin.

Both advisory companies are experts in the energy market.

Elysium Solar creates and is involved in agrivoltaic projects along with partners in r & d.

With the acquisition, Commerz Real stated it making a large-scale agrivoltaic project in Germany accessible to private financiers for the first time, with various other projects set to follow.

" Agrivoltaics is a key innovation that integrates farming and also renewable resource manufacturing. By now there are eye-catching investment possibilities in Germany in this growing segment, which we are currently tapping for our financiers," stated Yves-Maurice Radwan, Head of Green Deal Infrastructure at Commerz Real.

Agrivoltaics describes the simultaneous use agricultural locations with photovoltaic or pv plants: solar modules placed on stilts capture the sunshine, while cereals, fruit or vegetables grow beneath or in between the solar arrays.

" Agrivoltaic projects offer advantages thanks to double use the exact same location and also allow for a harmonizing of passions in between nature conservation, farming and the energy market," claimed Dominique Candrian, co-leader of Elysium Solar.

Advocates of the innovation argue that particularly in largely populated countries such as Germany new areas could be created for renewable energy generation.

The idea is flexible and can be changed according to the concrete use and also the regional environmental conditions.

In addition, the solar modules can help to protect harvests from weather condition sensations such as hail storm and extreme solar radiation as well as can likewise improve the micro-climate on croplands.

In the case of the project between Commerz Real and Elysium Solar the modules are arranged in rows and also automatically track the sun's path. It is possible to operate agricultural machinery in the paths in between the rows. Suitable uses would certainly be the farming of asparagus or berries by a regional agricultural operation, for example.

" With the teamwork we are thinking a leader role in Germany as well as bringing large agrivoltaics to the capital market," said Timo Werner, the fund manager for Klimavest at Commerz Real.

" In this manner we are expanding our portfolio and also securing the possibility for attractive returns for our investors while likewise making a substantial contribution to climate adjustment mitigation."

The park is the very first project in between the getting involved partners; it has actually currently been agreed, however, that Elysium Solar will certainly develop at least 2 additional agrivoltaic parks of a similar size for Commerz Real.