Enviria inks framework agreement with Q Energy for 500-MW German solar portfolio

Solar developer Enviria Energy Holding GmbH entered into a framework agreement with Q Energy to jointly develop a 500-MW portfolio of greenfield solar photovoltaic projects in Germany.

The transaction is one of Enviria's largest to date and represents one of the biggest merchant solar deals in the German photovoltaic market, Enviria said in a July 12 news release. Q Energy is a new entity formed from Hanwha Q CELLS GmbH's Green Energy Solutions division, which signed the deal with Enviria in March and transferred it to the new company, the release said.

The portfolio has more than 30 solar photovoltaic projects ranging from 2 MW to 70 MW, with ready-to-build dates expected between 2023 and 2025. Most of the projects are expected to operate on a merchant or power purchase agreement basis, and a portion was deemed suitable to participate in Germany's upcoming renewable energy tenders, Enviria said.

"This unique cooperation strengthens our activities in the free-field solar plant segment and provides us with planning security for a substantial share of our expanding German pipeline in free-field solar capacity," Enviria founder and CEO Melchior Schulze Brock said in the news release.

Eversheds Sutherland provided legal advice to Q Energy. ADVANT Beiten supported Enviria on the transaction, and Capcora was the M&A adviser.

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