Mainova buys 25% stake in 175 MWp solar project in Germany

German regional energy supplier Mainova AG (FRA:MNV6) has acquired nearly 25% of a 175-MWp solar project which will be built next year in the state of Brandenburg.

The Frankfurt-based company will market the green electricity produced by the subsidy-free facility which is estimated to amount to 180 million kWh per year, Mainova said on Tuesday.

Located some 100 km (62.14 mi) north of Berlin in the Boitzenburger Land municipality on an area of 160 hectares (395.4 acres), the solar park will supply about 64,000 households and cut carbon emissions by 85,000 tonnes annually.

The final construction permit is expected at the beginning of 2022.

Other participants in the projects include majority shareholder Solarenergie Boitzenburger Land GmbH of entrepreneur Dietrich Twietmeyer, who owns the land for the farm, and energy solutions company GP Joule.

Mainova has wind and solar parks with a combined installed capacity of 150 MW located in the states of Hesse, Bavaria, Brandenburg, Saxony, Schleswig-Holstein, Baden-Wuerttemberg and Rhineland-Palatinate as well as in France.

The regional energy supplier will continue to expand its renewable energy operations and use power purchase agreements (PPAs) in the future, said chief executive Constantin Alsheimer.

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