German solar and wind farm operator Blue Elephant Energy AG has acquired a 10-MWp ready-to-be-built solar park in the Netherlands, expanding its portfolio in the country to 631 MWp.
The project was acquired from German solar developer and EPC services provider Greencells Group, the buyer said in a filing on Wednesday. The value of the transaction was kept under wraps.
The new addition to Blue Elephant’s portfolio is a project in the municipality of Hoogeveen in the Northeast of the Netherlands. The photovoltaic (PV) park will be built as an extension to the existing 30-MW Hoogeveen I plant, with its commissioning planned to take place by the end of this year.
The project will receive feed-in-tariffs under the Dutch SDE incentive programme.
The deal is not the first partnership between Blue Elephant and Greencells. Last year, the two companies signed a joint development agreement to co-develop a 237-MWp solar portfolio in Italy and the Netherlands. The entire portfolio is expected to be completed by 2025 at the latest.
Commenting on the Dutch market, Blue Elephant’s chief investment officer Tim Kallas, said: “We still see potential in the Netherlands to drive renewable energy projects supporting the continent on its path to carbon neutrality and energy independence.”
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