CONERGY AG 07.07.2014
Ninth solar power plant build this year to be connected close to Bristol
HAMBURG, July 7, 2014 - The Conergy Group, one of the world's largest downstream solar companies, announced today the construction of a new 21MWp power plant in the United Kingdom, and the acquisition of a portfolio of rights to solar projects in the country with a combined potential capacity of 166MWp.
The 21MWp power plant will be built by Conergy UK & Ireland in the suburbs of Bristol, the largest city in south-west England with a metropolitan population of one million. When connected in November, it will produce enough electricity to power the equivalent of 3,750 homes, and over its expected 25-year lifetime, avoid carbon dioxide emissions of close to a quarter of a million tonnes. A revenue share agreement with the local community over the same period is expected to generate funds for local causes of up to GBP450,000 (EUR550,000/ USD 770,000) in today's money.
The Bristol project brings Conergy's capacity additions built or under construction in the UK to 126MWp for the year to date, including a 37MWp plant for European utility RWE in Prime Minister David Cameron's parliamentary constituency. The UK has become increasingly important to Conergy's solar projects business, which has built turnkey plants worldwide with 650MWp in capacity, managed assets totaling 300MWp, and is also active in the USA, Latin America, the Middle East, South East Asia and Japan.
Ranked in the UK among the top five biggest companies for the Engineering, Procurement and Constrution (EPC) of utility-scale solar plants, Conergy is expected to take a significant share of new capacity additions forecasted to top 1.5GWp in the next nine months.
In preparation, Wirsol Solar UK, a Conergy Group subsidiary, has acquired a portfolio of rights to projects at various stages of development from British renewable energy developer Lumicity, with a potential build value of approximately £200m (USD340m/ EUR250m).
Alexander Gorski, Global COO, Conergy, said: "Thanks to a dynamic energy sector and active support from councils and communities, the UK is one of the world's fastest-growing and most interesting markets for solar. Lumicity has a strong record in the development of renewable energy projects, and the deal supports both Conergy's power plants strategy and the expansion of its international pipeline."
Tristan Fischer, Chief Executive Officer of Lumicity, said: "Partnering with Conergy is great news for Lumicity's customers and will ensure the projects will be built quickly and to the highest standards."
For further information, please contact:
Germany
Moritz Rommerskirchen
moritz@browningpr.com
Rest of World
Peter Browning
peter@browningpr.com
About Conergy
Conergy is one of the world's largest downstream solar companies, specializing in the design, finance, build and operation of high performance solar systems for homes, businesses and utility-scale power. Founded in 1998, the company pioneered the expansion of solar power internationally, and today combines innovative technology and industry-leading engineering with access to capital. Headquartered in Hamburg, Germany, Conergy has a global sales network and established subsidiaries in 11 countries. The company is privately-held and majority-owned by Miami-based asset management firm Kawa Capital Management, Inc.
About Lumicity
Lumicity is a renewable energy company that works with customers to design, develop and manage tailored renewable energy projects in order to deliver maximum reliability and financial return. They have a particular focus on helping farmers, with much of their staff joining from farming backgrounds. Lumicity was set up by Irish state electricity utility ESB through Greencoat Capital, and the Ludgate Environmental Fund, a listed investment company
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