Enviria and Q Energy have entered into a framework agreement for the co-development of a 500MW portfolio of greenfield solar projects in Germany.
The portfolio consists of more than 30 ground-mounted solar PV projects spread across Germany.
The individual project sizes range between 2-70MW, with ready-to-build dates expected between 2023 and 2025.
The majority of projects are envisaged to be operated on a merchant or PPA basis, while some will be participate in the upcoming EEG tenders (German renewable energy act).
Enviria said the transaction represents one of the largest merchant solar project deals in the German PV market and is the largest renewable energy project to be implemented by the company to date.
It was structured as a framework purchase and co-development agreement and was originally done with the Green Energy Solutions (GES), the downstream division of Hanwha Qcells in March 2022.
The agreement was transferred to Q Energy, a new company into which Qcells’ former GES unit has recently been transformed.
Q Energy is comprised of a holding company and two subsidiaries, offering “holistic green energy solutions” to its partners on the European downstream market.
Melchior Schulze Brock, founder and CEO of Enviria, said: “With this 500MW pipeline, we have proven that Enviria’s forward-thinking approach works.
“We successfully secured the space and financing capital required, structured and planned the projects and can now move forward with their implementation.
“This is the very definition of our ecosystem approach: creating smart matches within our network.”
Sang Chull Chung, CEO of Q Energy, said: “With more than 1GW of successfully completed solar power plants and an active pipeline of over 7GW we are currently expanding our portfolio from solar to wind to large scale energy storage.
“Our ambitions on the German market are specifically high.
“We are therefore delighted to join forces with Enviria as a co-development partner and add 500MW of solar project rights to our growing pipeline in Germany.”