European Energy is to sell the 50MW Hanstholmvej solar farm in Denmark to German investment management company LHI Group for an undisclosed price.
The project is the first of its kind in Denmark with bi-facial modules, meaning that the panels absorb sunlight from both sides of the panel.
It is also the first in category D in Denmark, which means that the plant has more than 25MW in a grid-connection point, and was the first to be connected according to new EU regulations valid from April 2019.
A corporate power purchase agreement has been agreed with an unnamed “large international company” for the electricity generated by the project.
European Energy has been responsible for the construction and will remain responsible for the operation and administration of the project after the transfer.
European Energy chief executive Knud Erik Andersen said: “Solar park Hanstholmvej has been an important project for us, as this is the first time, we have utilized bifacial modules in Denmark, which means that we can also utilise diffused light to generate green electricity.
“Thisted Municipality has been a crucial player in the realisation of the project, and we are incredibly pleased with the collaboration around this visionary project, which can help accelerate the green transition in Denmark.
“We are incredibly proud that we can contribute to companies being able to achieve their green ambitions.
“A PPA reduces companies’ risk of price fluctuations in electricity prices while giving them 100% renewable energy.
“It benefits not only the companies, but the whole society, when companies actively decide where their power comes from, so we hope that even more companies will contact us in the future.”
LHI KVG managing director Franz Unterbichler said: “We are very pleased to work with such an experienced and professional partner as European Energy, so it was easy for us to invest in Denmark, a new market for us.”