Germany’s largest independent renewable energy operator Capital Stage announced this week that it had acquired two solar parks in development in the Netherlands and which are expected to be connected to the grid in October of next year.
Capital Stage, based in Hamburg, Germany, currently operates 165 solar parks and 64 wind farms throughout Europe with a total out of around 1.5 GW (gigawatts). The company announced on Monday that it had acquired two solar parks in the province of Zuid-Holland (South Holland) in the Netherlands. The two projects, with a combined total capacity of 47.6 MW (megawatts), are set to receive a feed-in tariff of EUR-Cent 10.7 per kilowatt-hour.
Expected to be connected to the grid in October of 2018, the Melissant and Ooltgensplaat solar projects were sold by Dutch project developer Sunstroom Engineering B.V. The acquisition transaction required a total investment, including project-related debt financing, of €44.5 million.
“The Netherlands offer very good framework conditions for investments in photovoltaic installations,” said Dr Dierk Paskert, CEO of Capital Stage AG. “In addition to expected capacity additions of around five gigawatts by the end of the year 2020, these include attractive financing conditions, the high level of investment security and the currency congruence. The two solar parks we acquired are among the largest projects in the Netherlands and therefore have quite a flagship effect. They form a good basis for further investment in our neighbouring country.”
This brings Capital Stage’s total ownership of solar capacity up to 770 MW and its total portfolio up to 1.5 GW.