CONERGY AG 04.09.2014
Two new solar projects for Conergy: one in South Wales (13.5MW), the other in Cornwall, southwest England (4.45MWp)
Wayne David, Member of Parliament for Caerphilly, South Wales: "This is tremendous news for the local area…It will send out a positive message about the Rhymney Valley and the future of solar power."
Hamburg/ Milton Keynes, 4 September 2014 - Conergy, one of the world's largest solar downstream companies, announced today that it has acquired the rights to build and operate two solar power plants in the United Kingdom with a combined capacity of 17.95MWp from the developer Solar Securities for an undisclosed sum.
The larger of the two projects, a 13.5MWp plant on a disused coal mine in South Wales, has permission from local authorities to operate for 35 years, while a 4.45MWp plant in the county of Cornwall in southwest England, has permission for 25 years on a 35-year land lease. When built and connected to the grid by Conergy towards the end of the year, the plants will together produce enough electricity to power the equivalent of 3,200 homes.
Alexander Gorski, Global COO and CEO Europe, Conergy, said: "Last year in the US solar was second only to gas in new power capacity additions, and as the cost of technology reaches a very competitive level and capital costs continue to decline, solar will continue to grow rapidly, in established markets like the UK and new emerging markets. Conergy has strong local networks globally and we're always on the look out for good projects. These two are excellent additions to our portfolio."
Conergy's projects business trebled in size globally in the first half of 2014 compared with the same period in 2013, with the UK making an important contribution that is expected to be sustained into 2015. The acquisition brings Conergy's business in the UK so far this year to around 150 MWp in capacity.
Robert Goss, MD Conergy UK & Ireland, said: "Solar is increasingly eating into coal's market share globally so it's fitting that we should be starting a project in South Wales, which produced a lot of the coal that powered Britain's industrial revolution. The site in Cornwall meanwhile is one of the best in the country, as it's on higher ground and away from the coast."
Nicholas Richardson, Solar Securities, said: "We're delighted the projects are going ahead with Conergy, one of the most experienced and best builders of large solar projects in the world."
Power generation from solar doubled in the last twelve months in the UK, producing a record 7.8% of demand on 21 June.
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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.
Conergy UK & Ireland, based in Milton Keynes, has worked on some of Britain's most pioneering projects, including the UK's first large scale solar farm (5MW) and a wave-shaped rooftop installation at Nationwide Building Society headquarters. The company is one of the five biggest builders of solar farms in the UK, according to Bloomberg New Energy Finance.
About Solar Securities
Founded in 2010, Solar Securities (Group) Limited (SSGL) is a UK developer of ground-mounted PV systems backed by RO Group, a well-established UK property, investment and trading group. To date Solar Securities has developed and exited sites with a combined capacity of 28.8MWp, and has a pipeline of further quality sites in development across southern England and Wales.
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