Better Energy and Industriens Pension jointly invest in new Danish solar parks
Published by Bella Weetch,
Editorial Assistant
Energy Global,
Industriens Pension and Better Energy have signed an agreement that will give a huge boost to the deployment of solar parks without state support. The first five solar parks covered by the agreement are already in operation, while the majority of the parks are expected to be in operation during the course of 2021 and 2022.
Better Energy is developing, building, and operating the solar parks. The agreement is a 50/50 partnership on the parks that have been built and put into operation. The company will continue to be responsible for operating the solar parks.
Faster scaling up of the green transition
The investment is expected to include DKK 1.5 billion in equity from the parties, supplemented with long-term project financing, typically in the form of mortgage loans. It is expected that the total investment of equity and project financing will amount to almost DKK 4 billion.
“This agreement establishes a robust partnership model for how to rapidly scale up the green transition. And this is imperative if Denmark is to have a reasonable chance of achieving its climate targets,” says Mark Augustenborg Ødum, EVP Partnerships in Better Energy, who stresses that close co-operation and strong partnerships are the way forward to realising the green transition.
The plan is to build around three-quarters of the solar parks in Denmark, while the remaining parks are likely to be built in Poland. The total capacity of the solar parks is expected to amount to approximately 1 GW, corresponding to an annual reduction of more than 350 000 t of CO2.
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Read the article online at: https://www.energyglobal.com/solar/04122020/better-energy-and-industriens-pension-jointly-invest-in-new-danish-solar-parks/
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