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Energiekontor signs solar PPA in Germany with Innogy

Solar panels. Featured Image: Jackiso/Shutterstock.com

May 14 (Renewables Now) - German renewables developer Energiekontor AG (ETR:EKT) has secured a long-term power purchase agreement (PPA) for a subsidy-free solar project in the federal state of Bavaria.

Essen-based energy company Innogy SE (ETR:IGY) has agreed to buy the output of the Absberg solar photovoltaic (PV) park that will be built in the Franconian district of Weissenburg-Gunzenhausen this year.

Energiekontor pointed out that this project will not rely on any state subsidies, which makes the PPA “one of the first cooperations of its kind in Germany.”

Upon completion, the PV plant will be able to generate some 5 million kWh of electricity per year, which would be enough to meet the annual consumption of about 1,400 homes.

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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