German solar energy start-up Enviria and newly founded green energy group Q Energy are planning to co-develop a 500 MW portfolio of ground-mounted solar photovoltaic (PV) projects in Germany.
The two companies have signed a framework agreement on the partnership, they said today.
The portfolio consists of more than 30 solar projects, each with a capacity in the range of 2 MW to 70 MW. The developments are expected to reach the ready-to-build stage between 2023 and 2025.
Most of the projects will be operated on a merchant or power purchase agreement (PPA) basis and part of them will be included in the upcoming tenders by Germany's Federal Network Agency.
"With more than 1GW of successfully completed solar power plants and an active pipeline of over 7 GW we are currently expanding our portfolio from solar to wind to large-scale energy storage. Our ambitions on the German market are specifically high," said Q Energy's chief executive Sang Chull Chung.
Based in Berlin, Q Energy was formed at the beginning of July from the former power plant division of Hanwha Qcells GmbH, part of South Korea’s Hanwha Solutions Corp (KRX:009830), and Q Energy France SAS.
The group has a 12-GW development portfolio, including 9.25 GW of solar, 2.25 GW of wind and 500 MW of storage. The projects are spread across Portugal, Spain, France and Germany. The regional presence in Europe will be expanded in the near term to include countries such as Italy, the UK and the Netherlands.
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