The ground-mounted solar park in Harderwold, the Netherlands, has a peak capacity of around 44 MW and will thus produce around 45.1 megawatt hours of electricity from solar energy per year in the future.
It belongs to the municipality of Zeewolde in the Dutch province of Flevoland and was realized there on a former golf course with an area of around 36 hectares. Flora and fauna are given special consideration in this solar park, for example, the park is surrounded by wide watercourses instead of fences so as not to impede the migration of animals. Flowers and grasses are also given plenty of space, and sheep can graze between the rows of modules. Tree hedges ensure that the solar park is not visible to traffic on the nearby N302 highway.
General conditions in the Netherlands secure revenue side for at least 15 years
"The newly acquired plant in Harderwold fits our purchase profile for renewable energy plants. With around 45 MW, the plant has an extremely interesting economic scale for investors," explains Detlef Schreiber, CEO of CEE Group.
The conditions for investments in renewable energies in the Netherlands are particularly good in an international comparison: The SDE+ subsidy system for renewable energies provides for a fixed tariff for at least 15 years and thus creates the necessary income security. In addition, if a plant falls short of its planned output, the tariff continues to be paid for the 16th year. The Netherlands is thus one of the few countries still operating with such a state-guaranteed tariff system.
"The Dutch market is highly competitive due to its exceptional regulatory framework. For project developers, investors and financing banks, these are very advantageous, as a cash flow is generated on the part of the projects that is secured by government regulations," Schreiber further explains. In most other markets, such subsidy systems with predictable revenues are already no longer available. There, operators of renewable energy plants market the electricity they produce themselves via so-called Power Purchase Agreements (PPAs), which entails opportunities as well as risks.
Solar modules from Longi – inverters from Sungrow
"The renewed cooperation with the internationally active project developer Obton was characterized by a very fair, pragmatic and competent cooperation. We would like to thank all those involved in this transaction for the extremely professional and trusting cooperation and look forward to further joint projects," emphasizes Schreiber.
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The PV park in Harderwold is equipped with solar modules from the Chinese manufacturer Longi. The inverters are from the manufacturer Sungrow. The purchase agreement was concluded with the project developer Obton from Denmark. Legal advice was provided by BJKT, and Bankhaus von der Heydt acted as advisor on the seller side. The technical due diligence was carried out by Evergy, the tax due diligence by Deloitte. Legal advice on the sell side was provided by Dirkzwager N.V.
N.V. The transaction was supported by financing from Rabobank. Both parties have agreed not to disclose the purchase price. The plant is scheduled to be commissioned on Dec. 31, 2022. (hcn)
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