The provider of photovoltaic systems Enviria and the recently founded full-service provider of eco-power plant solutions Q Energy have concluded a framework agreement for the joint construction of solar parks with a total capacity of 500 megawatts. The portfolio of ground-mounted plants consists of more than 30 solar power plants, each with a project size between two and 70 megawatts. These will be built at various locations in Germany and are scheduled to be connected to the grid between 2023 and 2025.
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The two project partners are only participating in a tender for market premiums by the Federal Network Agency with part of the plants. They will refinance the rest of the portfolio with direct electricity supply contracts (PPAs).
Planning security for Enviria
According to the two companies, this is one of the largest merchant solar project deals in the growing German photovoltaic market. This involves the construction of plants without subsidies, where the electricity is marketed directly. For Enviria, it is also the largest green power project to date, according to the company. "This unique cooperation strengthens our activities in the field of ground-mounted solar power plants and gives us planning security for a significant part of our growing German portfolio of ground-mounted solar capacities," says Melchior Schulze Brock, Managing Director of the Enviria Group.
Land and capital are secured
With the 500-megawatt pipeline, Enviria shows that its business approach works. "We have secured the necessary land and financing capital, structured and planned the projects. Now we can start implementing them. This is the core of our ecosystem approach: creating smart synergies within our network and thus creating value for all stakeholders," explains Brock.
Q Energy recently spun off
The cooperation was structured as a framework agreement with an associated development partnership. Originally, it was still with Green Energy Solutions, the power plant division of Hanwha Q Cells. A few days ago, however, this was spun off as a separate company under the name Q Energy. The new power plant company takes over the entire project pipeline of Q Cells in the area of ground-mounted systems. The construction of rooftop plants remains with Q Cells.
Seven gigawatts in total in the pipeline
The partnership agreement with Enviria was also transferred to Q Energy. "With more than one gigawatt of successfully completed solar power plants and an active pipeline of over seven gigawatts, we are currently expanding our portfolio from solar and wind energy to large-scale energy storage. In the dynamic German market, our ambitions are particularly high. We are therefore pleased to work with Enviria as a co-development partner and add 500 megawatts of solar project rights to our growing pipeline in Germany," emphasises Sang Chull Chung, Managing Director of Q Energy. (su/mfo)
