Danish renewable power firm Higher Power and home pension fund Industriens Pension will collectively make investments greater than 800 million (EUR 874m) to construct photo voltaic parks with a mixed capability of 1 GW in three European nations.
The plan envisages the development of 15 photovoltaic (PV) parks in Denmark, Sweden, and Poland, Higher Power stated on Thursday. The capability can be put in by the tip of subsequent 12 months, with no subsidies.
The initiative will develop an present partnership between the compatriots involving 21 photo voltaic parks, taking the general capability of their initiatives to round 2 GW. The funding within the 36 initiatives, together with the 15 newly introduced, will quantity to EUR 1.5 billion. A portion of the overall sum is fairness from each firms, whereas the steadiness will come from long-term building debt.
Beneath the association, Industriens Pension and Higher Power will every personal 50% of the finished solar energy vegetation. Higher Power will maintain the venture improvement, building, and operation and also will deal with energy era gross sales.
“The brand new parks can be one other step in direction of making certain a extra impartial power provide, and so they have an excellent local weather impact per EUR invested,” stated Peter Lindegaard, CIO of Industriens Pension.
(EUR 1.0 = USD 1.092)
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