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Last Updated on 08
Hamburg Based solar operator Blue Elephant Energy has allied with fellow German renewables developer and operator Umweltgerechte Kraftanlagen (UKA) to develop a 500MWp solar portfolio in Germany.
The portfolio is consists of 11 projects in an advanced development stage that have capacities between 20MWp and 130MWp and will be built in the states of Brandenburg, Mecklenburg-Vorpommern, Saxony, and Saxony-Anhalt. The solar farms are expected to be completed by 2023. They are expected to secure revenues via long-term power purchase agreements (PPAs).
Umweltgerechte Kraftanlagen (UKA) will develop the plants until they reach ready-to-build status. After construction, the projects will be part of Blue Elephant Energy’s asset portfolio.
Tim Kallas, chief investment officer of Blue Elephant Energy, said that this deal would help the company to “significantly expand its German portfolio in a stable and currently very attractive market for PV electricity without bearing risks from project development.”
As part of its national energy and climate plan, Germany is aiming to reach 98GW of installed solar PV capacity by 2030.
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