EUSOLAG adds 35-MWp solar purchase to project pipeline

German solar asset manager EUSOLAG European Solar AG announced on Monday that it has acquired a 35-MWp solar project in the grid-connection stage.

The company said that the project already has connection permits and is expected to be completed in the third quarter of next year. Once up and running, it will produce more than 40,000 MWh of electricity annually.

EUSOLAG has finished commercial negotiations for the sale of half of the future plant’s output to a “large energy utility company”, the name of which was not disclosed. The buyer did not give any further details about the project either.

"The asset is fully compliant with EUSOLAG's Green Finance Framework Use of Proceeds. A third-party as well as our internal due diligence on the properties of the land and connection of the project has given us the necessary comfort we seek to deploy our capital,” board member Daniel Spinnler commented.

Presently, EUSOLAG’s pipeline includes more than 700 MWp of qualified commercial and utility-scale solar projects and the company is evaluating over 1 GWp of additional schemes.

Choose your newsletter by Renewables Now. Join for free!