Sweden-based Orrön Energy has agreed to sell a 76-megawatt solar project in Germany to Saxovent Renewables for 4 million euros (US$ 4.56 million), according to a July 31 press release.
The solar project is in the northeastern part of Germany and being developed as an agrivoltaic project. It is aimed at enabling agricultural activities to take place alongside solar power generation, Orrön said.
Agrivoltaics, or dual-use solar, involves placing agricultural production, such as crop or livestock production or pollinator habitats, underneath solar panels or adjacent to solar panels, according to the U.S. Department of Energy’s website.
Half of the total consideration is paid at closing, which is expected imminently. The deal is awaiting municipal and legislative approvals, the release stated.
“Germany remains one of our key markets for greenfield projects, with a strong demand for renewable energy and a supportive regulatory framework. I expect this to be the first in a series of project sales, as we continue to develop and mature our greenfield pipeline and deliver long-term value from this platform,” said Daniel Fitzgerald, CEO of Orrön Energy.