Lichtblick seeks to build up to 1-GW portfolio of German wind, solar

Germany's Lichtblick SE aims to build a portfolio of wind and solar plants with a combined output of up to 1 GW in the home market by 2026 as the company is seeking to develop from a green electricity distributor into a vertically integrated energy company.

To fund its solar and wind power expansion across Germany, Lichtblick and its parent company Eneco will invest EUR 500 million (USD 526.55m) in the next five years. The first solar parks should go into operation this year, Lichtblick said on Wednesday.

Along with its own plants, Lichtblick will rely on power purchase agreements (PPA). Currently, the energy supplier procures electricity from 116 wind parks and eight solar plants under PPAs.

By 2026, the Hamburg-based company aims to generate 45% of its profit in new business areas.

Apart from green electricity production, Lichtblick will enter the prosumer segment and set up a new Energy as a Service business area. The offer for solar self-suppliers will include solar, storage and mobility solutions. Heat pumps will be added in the future. Under its plan, the company seeks to connect about 25,000 detached and semi-detached houses to a virtual power plant by 2026 that will optimise the energy and carbon balance locally and sell the excess electricity on the market.

(EUR 1 = USD 1.053)

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