German utility TEAG gets 50.1% of solar designer Innosun

• German municipal utility TEAG Thueringer Energie AG has actually gotten 50.1% of neighborhood solar programmer Innosun GmbH in a bid to broaden its solar portfolio.

Soemmerda, Thuringia-based Innosun establishes, develops, operates and services solar plants throughout Germany. The business has already implemented 174 projects, consisting of ground-mounted parks as well as rooftop installations, with a mixed result of 70 MW as well as services solar plants of greater than 32 MW.

The bargain consists of additionally the procurement of a 50% stake in the freshly developed Innosun Service which will certainly supply maintenance services for solar plants, TEAG claimed on Friday.

The participation will help TEAG develop a larger photovoltaics portfolio and provide a competitive advantage in the areas of electrical energy sales or the access right into new markets such as e-mobility, storage space or hydrogen production. The municipal utility is currently energetic in the solar power industry with its wholly-owned subsidiaries KomSolar Service and eness.

The offer is expected to lead to synergies in the location of big projects whose execution will certainly be increased by joint teams, claimed Innosun principal Michael Krause. It will certainly offer the solar programmer accessibility to TEAG's expertise in energy storage space, advertising and power grids and will assist it when it involves the acquisition of land for future projects, Krause added.

The financial regards to the offer were kept under wraps.