Blue Elephant Energy (BEE) has agreed to develop a 500-megawatt solar portfolio in Germany with UKA, a developer and operator of renewable-energy systems.
The portfolio includes 11 solar projects in an advanced development stage, located throughout the German federal states of Brandenburg, Mecklenburg-Vorpommern, Sachsen and Sachsen-Anhalt.
UKA will develop the projects until they reach ready-to-build status and after construction, the parks will remain part of BEE's renewable asset portfolio. The portfolio is expected to help reduce global CO2 emissions by 280,000 tons and will account for the annual electricity consumption of 200,000 households.
“By securing this portfolio, BEE can significantly expand its German portfolio in a stable and currently very attractive market for PV electricity without bearing risks from project development,” said Tim Kallas, CIO of BEE.
Gernot Gauglitz, managing partner of UKA added, “In order to successfully implem
