I Squared Capital acquires German agriPV operator SUNfarming
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Self sustaining vitality producer (IPP) Cube Inexperienced Energy, a subsidiary of US investment supervisor I Squared Capital, has got German agrivoltaics (agriPV) developer SUNfarming.
As fragment of the deal, I Squared will invest over €500 million (US$537.1 million) into constructing out SUNfarming’s agriPV pipeline till 2028, which includes a full potential of shut to 2GW. SUNfarming already has 650MW of PV initiatives in operation unswerving thru Europe, and is working with the SPIE community to plot Europe’s largest agriPV undertaking, the Klimapark Steinhöfel agriPV facility in Germany, which may perchance private a full vitality abilities potential of 753MW.
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I Squared renowned that it has invested US$7 billion within the energy transition within the closing decade, but didn’t specify the rate of the acquisition of SUNfarming. The three companies concerned question of the transaction to nearby the key quarter of 2025, and SUNfarming “founders and key management” will contend with minority shareholding positions within the corporate and continue of their present roles.
“This transaction marks an exhilarating next stage for our company and brings us a extremely valuable step nearer to the significant purpose of using the energy transition and making a greener future,” mentioned SUNfarming founder Peter Schrum. “I Squared’s investment through Cube Inexperienced Energy offers further tailwind to SUNfarming’s dynamic pattern and underlines our stable situation within the agriPV market.”
Cube Inexperienced Energy has centered its investments on the German PV sector, with extra than 500MW of potential beneath pattern, extra than in any other nation. The company presently has 80MW of potential in operation in Germany, alongside 56MW of working potential in France and 5MW in Italy.
While Europe’s agriPV industry has continuously been touted as a sector with grand potential, better policy strengthen would be significant if this potential is to be realised. This week, exchange body SolarPower Europe known as for the mix of agriPV into present environmental policy standards to bustle the adoption of the put together within the continent.
The European agriPV sector may perchance also moreover put together within the footsteps of other industries, such as residential solar. This is the conception of Roman Karbowy, who spoke to PV Tech Top class this week concerning the role of small-scale solar and agriPV in Poland in particular, and how the deployment of the worn has benefited from supportive policy, which may perchance also living a precedent for agriPV within the nation.
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Roman Karbowy of the Polish Photovoltaics Association spoke solely to PV Tech Top class about Poland’s solar ‘revolution’.
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