project finance

clearvise, an independent renewable energy power producer, announced the acquisition of a 42 MW Wolfsgarten solar project from ALTUS.

ALTUS, a German-based renewable energy project developer, planned and built the Wolfsgarten solar project. It was commissioned and put into operation at the end of April 2024. The electricity generated will be marketed via a Power Purchase Agreement (PPA).

Petra Leue-Bahns, CEO of clearvise AG, said, “A complex, large project like Wolfsgarten shows that we rightly trust in the development expertise of ALTUS. We would like to thank our long-standing partner for the good cooperation and tireless commitment. As a result, the park could be put into operation on schedule before the high-irradiation summer months.”

Marco Eggensperger, Managing Director of ALTUS renewables, added, “With the Wolfsgarten solar park, we have successfully proven that our experienced team can successfully implement larger projects even in a difficult market environment. We are pleased that we will continue to be responsible for the long-term management of the Wolfsgarten solar park after the sale and thus further expand our cooperation with clearvise.”

clearvise and ALTUS signed the purchase agreement for the Wolfsgarten solar project in 2021. With this acquisition, clearvise has expanded its operational generation portfolio of solar and wind energy projects to 316 MW, according to the company.

According to Mercom’s Q1 2024 Solar Funding and M&A Report, almost 10.8 GW of solar projects were acquired in Q1 2024 compared to 11.9 GW in Q1 2023. In a QoQ comparison, 13.7 GW of solar projects were acquired in Q4 2023.

Recently, ONDE, a renewable energy contractor involved in the development of solar and wind projects, announced the acquisition of a 63 MW solar project located in the West Pomeranian Voivodeship in Poland. The company acquired 100% stakes in a special-purpose vehicle that owns the solar project.