Orrön Energy, an independent renewable energy company, has entered into an agreement with Gülermak Renewables Deutschland Holding, a subsidiary of Gülermak Renewables, to sell 234 MW of solar projects in Germany for a total consideration of up to MEUR 14 (~$16 million). The portfolio consists of three solar projects.
This amount includes reimbursement of development expenses and milestone-based payments linked to project progress through to the ready-to-build stage. Of the contingent consideration, 40% is payable upon achieving ready-to-permit status, with the remaining 60% due at the ready-to-build stage.
The first project is expected to receive an upfront payment of €0.7 million (~$0.82 million) at closing, with the remaining consideration paid progressively, subject to the achievement of defined development milestones through to the ready-to-build stage.
The projects are located in eastern Germany and are being developed as Agri-PV projects with co-located battery options, enabling agricultural activities to take place alongside solar power generation.
The projects are currently in a pre-ready-to-permit stage and will be in the ready-to-build stage in 2027, subject to obtaining favorable permit approvals and grid reservations.
Under the agreement, the company will continue developing the projects up to the ready-to-build stage. Closing for the first project is expected at the beginning of 2026.
Daniel Fitzgerald, CEO for Orrön Energy, commented, “I am pleased to announce our second sale in Germany, this time with a portfolio of projects which clearly demonstrates the high quality of our greenfield platform. Supported by a growing and maturing pipeline of projects, I expect this platform to continue generating additional revenue streams as we deliver on our greenfield monetization strategy. Gülermak is a strong and reputable partner with deep technical and engineering expertise, and I look forward to exploring further opportunities for collaboration.”
In August, the company entered into an agreement with Saxovent Renewables, a renewable energy project developer, to sell a 76 MW solar project in Germany. The agrivoltaic project is being developed in the northeastern part of Germany.
In the first nine months of 2025, approximately 29 GW of solar projects were acquired compared to 28.3 GW in 9M 2024, according to Mercom’s 9M and Q3 2025 Solar Funding and M&A report.
