Bayreuth (pta/11.10.2022/08:00 UTC+2)
Bayreuth, 11 October 2022 Earlier this year, 7C Solarparken signed a Letter of Intent with a German project developer, sitting on a 400 MWp pipeline of large freefield sites, to transfer potential rights on advanced PV projects to new companies controlled by 7C Solarparken. The first two projects have now been secured. Management estimates that both projects could enter construction in the course of 2023 and as a result represent a substantial part of their Plan to reach 525 MWp by 2025 compared to 366 MWp at present.
Description of projects
German government recently announced their decision to include projects up to 100 MWp in the auction process. Given the advanced status of the projects, they are legally entitled to take part in the tender.
Steven De Proost, CEO of 7C Solarparken, comments: "We welcome the entry of two large projects into our pipeline. Firstly, our company has reached a critical size as to construct and finance large-scale projects of almost 100 MWp even on the basis of 100% equity. Secondly, we believe that – amid the current energy crisis – the need for larger projects has become unavoidable. Thirdly, the transaction with the project developer has ensured that alternative projects can replace the existing projects in case the final permit would not be reached. Given the lead time of 9-12 months before construction start, we are starting up discussions already with suppliers of components."
7C Solarparken AG
An der Feuerwache 15
|Contact Person:||Koen Boriau|
|Phone:||+49 921 230557-77|
|Stock Exchange(s):||Regulated Market in Frankfurt; Free Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate|
|Other Stock Exchanges:||London|