German electric utility EnBW has agreed to acquire pre-developed 400 MW of solar projects in Brandenburg from Procon Solar. The agreement includes an option for EnBW to acquire a further 400 MW.
The contracts cover solar projects at various stages of development and will be undertaken in two phases. The solar projects, which are in the advanced stages of development with a capacity of around 400 MW, will be transferred to EnBW in July.
Additional projects in the early stages of development with a capacity of 400 MW will follow by February 2023.
Under the terms, nine employees will move from Procon Solar to EnBW. The site in Cottbus will be retained and run by EnBW as an office in the future.
EnBW owns a 2,500 MW of solar PV project pipeline in Germany. EnBW’s pipeline will increase by over 25% to 3,300 MW with this acquisition.
“We still have some hurdles to overcome together before the individual projects are approved and can be built. The crucial aspect here is that it involves pioneering projects aimed at expanding the use of renewable energies, which we would like to realize together with the communities, regional authorities, and other stakeholders,” commented Thorsten Jorß, who is responsible for solar project development at EnBW.
“It is important for us to be a reliable partner in bringing about the energy transition – for the people and communities in Brandenburg and the energy-producing region of Lusatia. We are confident that our experience working with others at the local level, combined with the entire company’s expertise in the energy industry, can bring real benefits to the region. EnBW is firmly committed to Brandenburg with its three existing solar parks in Weesow-Willmersdorf, Gottesgabe, and Alttrebbin – all built without state funding and boasting a combined capacity of around 500 MW – and we wish to continue to play an active role in shaping the structural change of the energy-producing region,” said Harald Schmoch, Head of Renewable Energies at EnBW.
Recently, Washington DC-based Sol Systems, a solar finance, and development company, acquired the 91 MW Grandview solar project in Spencer County, Indiana, from Orion Renewable Power Resources, a joint venture between Orion Renewable Energy Group and Eolian.
Large-scale solar project acquisition activity remained strong, with over 23 GW of solar projects acquired in Q1 2022 compared to 13.1 GW in Q4 2021, according to Mercom’s Q1 2022 solar funding and M&A report.