German renewable energy asset operator Capital Stage has acquired a pipeline of PV projects in the Netherlands. The solar plants have a combined capacity of 47.6 MW and are expected to be connected to the grid in October 2018.
The two facilities are located in Melissant and Ooltgensplaat in the province of South Holland, and have an output of 10 MW and 37.6 MW respectively. The total investment volume, including project-based debt financing, amounts to €44.5 million. The seller was Dutch project developer Sunstroom Engineering B.V, who took over the technical management of the plants during the first five years.
The Hamburg-based company expects revenue of around €5 million from the first full year of operation of the two plants. According to Capital Stage, the solar parks are entitled to receive a 15-year tariff of €0.0107 per kWh. “The Netherlands offers very good conditions for investment in solar,” says Dierk Paskert, CEO of Capital Stage. “In addition to an expected expansion of around 5 GW by the end of the year 2020, there are attractive financing conditions, high investment security and currency congruence.”
Capital Stage said that, including this transaction, its PV plant portfolio will increase to 770 MW, while its total renewable energy power assets will reach 1.5 GW. This year’s new investments have been made in Denmark, and now in the Netherlands.