International downstream player, Conergy, is to take its first steps towards becoming a solar independent power producer (IPP).
Previously focused on developing, building and maintaining PV power plants, Conergy revealed today that it would now also operate as an IPP by selectively owning solar assets.
“To date, Conergy’s strategic focus has been project development, EPC and O&M. Asset ownership is a natural progression of this initial strategy,” Conergy’s chief executive, Andrew de Pass, said in a statement to PV Tech. “Asset ownership reduces earnings volatility and enhances shareholder value. We believe the market values solar IPPs greater than mere development companies.”
The first plants that Conergy will take under direct ownership are a portfolio of five ground-mount projects in North Carolina totalling 28MW. These projects were completed earlier this month and will sell power to utility Duke Energy under a 15-year PPA.
“The 28MW project portfolio in North Carolina is high quality and sizeable; therefore, a good anchor for this move into asset ownership,” said de Pass, confirming that Conergy would also look at markets beyond the Americas to roll out its IPP activities.
Conergy has also named its previous head of global marketing and PR, Yann Brandt, as its new regional head of the Americas.
Brandt will have operational responsibility for Conergy in North America, Central America, the Caribbean and South America.