Renewables asset owner Luxcara has acquired a 172MW photovoltaic project in Germany from Belectric.
Belectric will build and operate the 172MW solar farm on behalf of Luxcara.
It will start construction of the project, sited in the municipalities of Tramm and Lewitzrand in the state of Mecklenburg-Western Pomerania, before the end of this year.
The solar plant will start commercial operation at the end of next year and will sell power generated under a long-term power purchase agreement with no subsidy.
Luxcara managing director Philip Sander said: “We are excited to implement this exceptional photovoltaic project with our long-standing partner Belectric.
“The project will be completed without any state funding and the electricity produced will be sold to an offtaker under a long-term electricity supply contract.”
Belectric managing director Martin Zembsch said: “With this large project we are confirming our position as a leading project developer in the growing German solar market.
“We are delighted that our long-standing client Luxcara has bought the plant and is also using our expertise as general contractors in the construction as well as operation and maintenance of the solar farm.”