Powered by the sun

BayernLB is seeing one of its long-standing customers, the Hamburg-based solar and wind park operator Blue Elephant Energy AG (“BEE”), through its acquisition of a 47-MW photovoltaic portfolio in the Netherlands.

BEE has namely purchased four ready-to-build solar farms in eastern and south-eastern Holland. Construction is set to begin in the first half of 2021 and will employ state-of-the-art technology that is compliant with the latest environmental protection regulations. BEE plans to put the new power stations on the commercial grid by the end of the year.

Once completed, the solar park is expected to supply 15,000 households with electricity each year while staving off some 26,500 tonnes of CO2 emissions throughout the Netherlands.

The acquisition adds 500 MW to BEE’s solar portfolio in the Netherlands and 1,104 MW to its global portfolio. To date Blue Elephant AG has purchased, and now operates, solar and wind parks in eight countries, most of which in western Europe.

In providing financing for solar farms BayernLB is underscoring its claim as an investment financier dedicated to progress and with its eyes on future-oriented sectors.