Qatar’s Nebras enters Dutch solar market

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Nebras Power Investment Management B.V., the Dutch unit of Qatar-based investment company Nebras Power Q.S.C., which is itself a joint venture between Qatar Electricity and Water Company (QEWC) and Qatar Holding (QH), has acquired a 75% interest in Zon Exploitatie Nederland Holding B.V. (ZEN), a Dutch PV project developer, which currently owns 96 MW of solar capacity in operation, under construction or ready for construction in the Netherlands.

“We are very pleased with this acquisition, which adds to our existing solar portfolio: the largest operating solar IPP in Jordan, Shams Maan, and AM Solar, under construction,” said Nebras CEO, Khalid Mohammed Jolo, without providing details on the financial terms of the deal.

“The agreement signed today brings ZEN to a completely new level as a developer, EPC contractor, and operator, and will support the deployment of an ambitious growth strategy in solar energy projects in the Netherlands to become a European market leader,” added ZEN CEO, Michel Peek.

According to ZEN’s website, the Dutch developer has so far mainly developed rooftop commercial and industrial PV projects across several locations in the Netherlands. The largest project is a 6.1 MW rooftop array, located in Tilburg, in the province of North Brabant.

In a press release, Nebras specified the ZEN PV project pipeline is taking advantage of the supportive policy of the Netherlands’ government. This means most of them are likely being developed under the SDE+ program for solar projects exceeding 15 kW in size.