Alternative asset management firm Conquest has signed an agreement with European Energy to acquire a solar farm located in the Jutland region of northwest Denmark.
The acquisition of the 27MW Naessundvej project will contribute to an additional annual renewable power generation of 32 gigawatt-hours (GWh), it said.
The solar park at Naessundvej is one of the latest projects to become operational on the Danish grid.
European Energy previously announced that it had a long term power purchase agreement (PPA) in place with Google for the project.
Conquest, which invests in long-term sustainable value stemming from European infrastructure and energy transition real assets, hailed the deal as a landmark for its entry into the Nordic infrastructure market.
It previously invested in the French market in 2017 and 2018 and in the Benelux region in 2019.
In 2019, Conquest’s investment portfolio produced over 224GWh of renewable energy, representing the annual consumption of over 75,000 homes, and avoiding over 3130 tonnes of carbon dioxide emissions.
President and Founder of Conquest Frederic Palanque said: “This transaction perfectly illustrates our investment strategy to build long-term industrial partnerships with global developers and platforms of sustainable Infrastructure assets in Europe.”
European Energy chief executive Knud Erik Andersen said: “We are delighted to hand this important solar park off to Conquest and hope to work together on future investment opportunities within our broad European portfolio.
“In the meantime, we are going to take care of Conquest’s investment as we have also agreed to take on operation and management of the solar park.”