European Energy, a solar project developer, announced the sale of three renewable energy projects in Germany and the UK, with a cumulative capacity of over 100 MW.
The projects include Bubney Solar Farm in the UK, with a capacity of 40.4 MW, and the Bloosballich Wind Park in Germany, with a 12.6 MW capacity. The divestment also included an additional wind power project in Germany, which the company did not name and accounted for the remaining capacity.
The Bubney Solar Farm was developed and constructed by European Energy in Shropshire, West Midlands, in the UK. The project’s construction started in September 2022, and the farm was connected to the grid in August 2023. The company fully divested the project to the Independent Power Producer, the Elm Trading Group.
The Bloosballich Wind Park, located in the federal state of Saxony-Anhalt, Germany, consists of three wind turbines, each with a capacity of 4.2 MW, manufactured by Enercon. The turbines were commissioned in November of this year, and the wind park has been fully divested to a German family office.
“Our divestment efforts in December demonstrate a strong and growing market interest in the renewable energy projects we offer. The increasing interest in renewable energy projects is further strengthened by the market belief that the central bank rate hiking cycle has come to an end,” says Jens-Peter Zink, Deputy CEO of European Energy.
2023 has been a year where European Energy has divested projects with a capacity of more than 1.1 GW. The projects divested in 2023 span the U.S. (346 MW), the United Kingdom (107.4 MW), Italy (237.4 MW), Denmark (356MW), and Germany (75.6 MW).
According to Mercom’s 9M and Q3 2023 Solar Funding and M&A Report, in the first nine months (9M) of 2023, there were 166 project acquisitions for 31.6 GW compared to 207 projects for 52.1 GW in 9M 2022.
Germany-based independent power producer Encavis recently acquired 30 MW of ready-to-build Pozzolo solar project in Italy. The value of the transaction and the vendor’s name were not disclosed. The solar project generates an average of around 42 GWh of electricity per year and will be connected to the grid in the second quarter of 2025.