GERMANY: Green FOX Energy targeting 100 MW of RTB assets by late 2024

Hamburg-headquartered Green FOX Energy’s transition into an IPP is gathering pace, with the group by early Q3 set to take its commissioned operational capacity to 20 MWp while it is targeting having a further 100 MW portfolio of projects at the ready-to-build stage by the end of 2024.

The group, which was launched in 2021 by entrepreneur Jorn Reinecke, is in the process of commissioning the 15 MWp plant near the village of Eyendorf, in Lower Saxony, adding to a 5 MWp scheme in Saxony-Anhalt which entered operation last year.

It currently has around 70 MWp of solar PV capacity at RTB and will add the additional 30 MWp over the coming months, a Green Fox representative told NPM Europe in a recent interview at its Hamburg offices.

The additional 100 MWp of capacity will all be operational by late 2025.

Green Fox’s total pipeline of projects with land secured stands at around 2.5 GWp. Of this, a circa 1GW tranche will have secured minimum initial permitting approvals by the end of 2024.

The company acquired a 50% stake in developer ON Energy in June 2023, in doing so adding 1.5 GWp to its pipeline.

Green Fox aims to keep ownership of a portion of its operating assets in order to transition into an IPP, but will also consider selective asset sales.

The company “typically looks to secure 20-year EEG tariffs in Germany’s solar auctions but plans on entering into PPAs as soon as the portfolio builds up in the next year,” the representative added.

*This story was originally published exclusively for NPM Europe subscribers.

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