German investor Encavis has agreed to buy two solar parks in Denmark totalling 105MW from Danish developer European Energy.
The deal includes 34MW subsidy-free Svinningegarden solar park in the north-western part of Zealand, which is already grid connected.
SDAX-listed Encavis has also agreed to acquire the 71MW Rodby Fjord solar park in Lolland, which is due to be connected in the first quarter of 2022 in the south-western part of Zealand.
European Energy has developed and built both projects, which will sell their output under long-term, pay-as-produced power purchase agreements with unnamed tech companies.
Rodby Fjord will additionally benefit from a 20-year feed-in-tariff from the Danish government.
The purchase brings Encavis’ PV generation capacity in Denmark to over 100MW and increases its wider capacity to nearly 1.9GW.
Knud Erik Andersen, CEO of European Energy, said: “We are proud to expand our partnership with Encavis, a leading European IPP with an excellent track record. European Energy will work closely together with Encavis on a long-term basis to ensure that the two solar parks reliably deliver green energy and contribute to Denmark’s energy transition goals.”