27.01.2021

Blue Elephant Energy AG (BEE), a Hamburg-based independent operator of solar and wind power plants completed the acquisition of four construction-ready photovoltaic parks in the Netherlands with a combined capacity of 47 MW.

The acquired portfolio consists of four photovoltaic parks located across the South East and East of the Netherlands. Construction will start in the first half of 2021 and grid connection and start of commercial operations are foreseen prior end of 2021. LC Energy will continue to support BEE through the construction process, leveraging its expertise in grid connection, permitting, and land management to support the projects' long-term success.

Within the national energy generation mix, the portfolio will help to reduce the CO₂ emissions in the Netherlands by approximately 26,500 tons and serves the electricity needs of 15,000 households annually from its completion onwards.

With the acquisition of the solar portfolio BEE expands its portfolio to 500 MW in the Netherlands and to 1,066 MW worldwide.

Tim Kallas, Chief Investment Officer of Blue Elephant said: "We are delighted to have concluded the first transaction with LC Energy and to add another 47 MWp to our rapidly growing solar portfolio in the Netherlands, now summing up to roughly 500 MWp and increasing our overall renewable portfolio to around 1,066 MW. We are happy to contribute with each single renewable energy project towards a more sustainable and cleaner energy supply.

About Blue Elephant Energy AG:
Blue Elephant Energy AG (BEE) acquires and operates Solar Parks and Wind Farms in eight countries with a focus on Western-Europe. Founded in 2016, BEE is currently operating a renewable energy portfolio of 1,066 MW, part of which is under construction and will be grid-connected in 2021. BEE's renewable energy assets contribute to a sustainable energy supply by saving 800,000 tons of CO₂ annually and providing 335,000 households with clean energy. As part of its ESG strategy BEE directly contributes to social projects on a local level, particularly in Chile and in the Dominican Republic. BEE has secured additional 502 MW Solar Park capacity in the context of co-development agreements with a limited range of developers, based on longstanding relationships and mutual appreciation. With equity provided by BEE's shareholders and participation rights capital provided by medium sized insurance companies, BEE has been able to invest well above EUR 1.1 billion since inception.

About Low Carbon:
Low Carbon is a leading renewable energy investment and asset management company committed to the development and operation of renewable energy at scale. Low Carbon invests into both renewable energy developers and projects across a range of renewable energy technologies including solar PV, wind, energy storage, waste-to-energy and energy efficiency.
 
A certified B Corp, Low Carbon has a proven track record in the development, construction, financing and management of renewable energy assets and remains involved in the projects for the long term with a dedicated asset management team that manages assets on balance sheet and for third parties. The team is actively engaged in the UK and European waste-to-energy market and with a renewable energy pipeline of more than 4GW, the business is well-positioned to capitalise on opportunities as the need for renewable energy and energy security increases.

About Qing:
Qing is a top 50 engineering firm in the Netherlands. Qing's consultants, project managers and engineers deliver innovative and sustainable solutions in the field of industrial automation, special machinery and renewable energy. Their renewable energy development team are specialists in all aspects of the development process, including land contracting, project permitting, technical design, financial and construction management. 


Contact:
Blue Elephant Energy AG
Karen Westphal
Jungfernstieg 51
20354 Hamburg
Fon: 1 0
Fax: 1 02
E-Mail: