German renewable energy developer Encavis has signed a partnership agreement with Danish company GreenGo Energy Group that gives the former exclusivity for an over 500MW portfolio of solar farms in Denmark.
Under the terms of the deal, Encavis will acquire projects early on and ensure financing through to commercial operations.
The first development, known as Project M01A, has already obtained zoning approval and a building permit in Ringkobing Skjern commune.
Construction is scheduled to start this year.
Encavis chief executive Dierk Paskert said: “We are excited about this new partnership with GreenGo on the Mermaid portfolio of Danish solar projects. It’s in synergy with our ‘Fast Forward 2025 Strategy’.
“We know Denmark very well already from our growing wind portfolio, so adding solar to the mix at this scale makes perfect sense. We look forward to further adding to the energy transition in Denmark.”
GreenGo chief executive Karsten Nielsen said: “We are proud of this new partnership with Encavis, a leading European IPP with an excellent track record.
“The agreement will ensure full cycle financing of more than 500MW of our rapidly growing Mermaid solar portfolio in Denmark.”