Swedish state-owned utility Vattenfall has acquired German solar developer Solizer and its PV portfolio of 4GW of projects in Germany.
With this acquisition, Vattenfall increases its German solar PV development portfolio to 7GW, while construction of the first projects of the newly acquired portfolio is expected to start as early as 2024.
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The utility continues to expand its reach into the German market, where it invested in a 76MW agrivoltaics plant, in the northeastern municipality of Tützpatz, earlier this year and for which the construction is expected to start this summer.
Germany continues to be one of the leading markets in Europe for solar PV and has already added 2.6GW of solar PV in the first quarter of 2023.
Moreover, the country continues to accelerate the uptake of solar in the country with the launch of tenders, seeking nearly 2GW of solar PV at the beginning of the year.
Helene Biström, senior vice president and head of business area wind at Vattenfall, said: “Germany is a core market for Vattenfall’s solar development. Solar is cost-competitive and can be built subsidy-free, which is important in meeting the rapidly increasing demand for low-cost solar power from customers.”
Downstream activity in Germany has been booming this year with several companies either setting foot in the solar market or acquiring local developers such as Vattenfall did. Among players who entered the market this year are renewables developer Fotowatio Renewable Ventures (FRV) with a 2GW solar and storage target by 2027, solar developer Lightsource bp targeting 400MW solar PV per year by 2030 or Danish investor company Copenhagen Infrastructure Partners (CIP) launching a new renewables development platform in Germany named Baldur Power.
Furthermore, at the upstream level Germany recently launched an expression of interest for 10GW of solar manufacturing, in a move to boost the country’s PV manufacturing supply chain.