Project Finance Brief: Enefit Green Acquires Solar Projects in Estonia

Energiequelle, a developer, has sold Decize solar project to Watt & Co, a project developer. The centrally located project in France has a total output of 14.7 MWp and has been built with 36,000 modules on around 15 hectares.

The French Energiequelle subsidiary P&T developed the project in cooperation with EREA Ingenierie. The project went into operation last year and has since supplied almost 7,000 two-person households with sustainably produced electricity.

Watt & Co is a project developer and investor focused primarily on the solar industry and has been active in this field for over ten years. The company operates 60 MW of solar projects in France, with over 300 MW in the late project development phase.

Julia Timm, Experte Project Sales at Energiequelle, is delighted with the successful sale: “We hope to establish a fruitful and long-term business relationship with Watt & Co. The collaboration was always constructive and very pleasant.”

Energiequelle has implemented 33 photovoltaics plants in Germany, Spain, and Italy. They currently manage 22 solar projects.

Earlier this month, Opdenergy, an independent renewable energy producer, signed a green financing agreement of €350 million (~$356.4 million) with BBVA and the European Investment Bank (EIB) for the construction and commissioning of 605 MW of a solar PV portfolio located in Spain.

According to Mercom’s 1H and Q2 2022 Solar Funding and M&A Report, announced large-scale project funding in Q2 2022 came to $6.9 billion, a 24% decrease compared to $9 billion in Q1 2022.

Recently, Whetstone Power and Rosemawr Sustainable Infrastructure Management, the sustainable infrastructure arm of Rosemawr Management, announced the acquisition of a 30 MW operating solar project in Alamosa, Colorado. The acquired solar project sells power to Public Service Company of Colorado, a subsidiary of Xcel Energy. In August 2016, Korea Electric Power Corp (KEPCO) bought the Alamosa solar project from developer Cogentrix Energy Power Management.