European Energy commissions 50 MW of Danish solar PV, sells to Allianz

Following on the heels of the construction of Denmark’s largest solar plant at 60 MW, Danish wind and solar developer European Energy A/S has announced that it has completed 50.4 MW of solar projects in Vandel, Denmark.

European Energy further reports that it has signed conditional agreements to sell these projects to a fund managed by Allianz Global Investors. The company owns 50% of the plants.

European Energy states that the purchase price is not yet final and will depend upon a number of factors including the feed-in tariff rate which the plants will receive. The company notes that the final feed-in tariff for the projects may be higher than the base feed-in tariff, due to a specific tariff program.

A decision on the final tariff is expected in early 2016. The number of projects and capacity of individual installations was not included in a brief press statement, and European Energy could not be reached by press time.

While Denmark is more known for having the highest share of wind in its electricity mix of any nation on Earth, it also reached 603 MW of installed PV in 2014, according to estimates by the International Renewable Energy Agency (IRENA).

Denmark plans to transition its entire energy supply, including electricity, heating and transportation, to renewable energy by 2050.