Blue Elephant Energy (BEE), a Hamburg-based independent operator of solar and wind projects, acquired a solar projects portfolio with an overall capacity of 120 MW from Chint Solar.
The acquired portfolio consists of six solar PV projects located in the northeast of the Netherlands. The projects are expected to be commissioned in the second half of 2022.
Chint Solar developed the solar projects with support from regional development partners. BEE expands its portfolio to 621 MW in the Netherlands and 1,228 MW globally with this acquisition.
Tim Kallas, Chief Investment Officer of Blue Elephant Energy, comments: “We are pleased to add another 120 MW to our growing solar portfolio in the Netherlands with this transaction. The acquisition strengthens our overall portfolio and allows us to be part of the renewable energy expansion path in the Netherlands. With Chint, we have a long-standing partnership and a reliable partner on-site.”
According to Mercom’s recently published Q4 2021 solar funding and M&A report, a record 69 GW of solar projects were acquired in 2021 compared to 40 GW in 2020. In January 2021, Blue Elephant Energy acquired a portfolio of 47 MW ready-to-build solar PV projects in the Netherlands from LC Energy.