Orrön Energy sells three solar energy projects in Germany

22 Dec Orrön Energy sells three solar energy projects in Germany

(Oilandgaspress) Orrön Energy AB announced that it has entered into an agreement with Gülermak Renewables Deutschland Holding GmbH (“Gülermak”), 100% subsidiary of Gülermak Renewables Ltd to sell three solar energy development projects in Germany, with a combined estimated installed capacity of 234 MW, for a total consideration of up to MEUR 14. The consideration paid at closing for the first project is expected to be MEUR 0.7, with the remaining consideration contingent on development milestones being met up to the ready-to-build stage.

The projects are located in eastern Germany and are being developed as Agri-PV projects with co-located battery options, enabling agricultural activities to take place alongside solar power generation. The projects are in a pre-ready-to-permit stage and are being developed with a combined estimated installed capacity of 234 MW. The total consideration amounts to up to MEUR 14 if all contingent payments become due, which includes reimbursement of development costs and a consideration payable for a series of pre-defined milestones up until the ready-to-build stage. 40 percent of the contingent payments are due at the ready-to-permit stage, and 60 percent at the ready-to-build stage.
The projects are expected to reach the ready-to-permit stage in 2026 and the ready-to-build stage in 2027, subject to obtaining favourable permit approvals and grid reservations. Under the agreement, Orrön Energy will continue developing the projects up until the ready-to-build stage. Closing for the first project is expected in the beginning of 2026.

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