Commerz Real has entered the Danish photovoltaic market with the acquisition of two solar parks as part of a newly formed joint venture with Hydro Rein, a Norwegian renewable investor. Danish developer GreenGo Energy sold the parks for an undisclosed amount.
The solar parks will have a total capacity of 362 megawatts-peak once constructed. The developments are located on Denmark’s west coast and in south Denmark.
As part of the joint venture with Hydro Rein, Commerz Real is planning to acquire additional project developments in the medium term, with an additional solar power capacity of as much as 1 gigawatt-peak. This corresponds more or less to the installed capacity of a medium-sized nuclear power station.
“The Danish investment market for photovoltaic is still relatively young and is seeing a correspondingly dynamic development,” said Barkha Mehmedagic, global head of institutional sales and group treasury at Commerz Real. “This offers the potential