Located across the South East and East of the country, the sites have a combined capacity of 48 MW. LC Energy will continue to support Blue Elephant through the construction process, leveraging its expertise in grid connection, permitting, and land management to support the projects’ long-term success. Blue Elephant will be the long-term operator of the sites, adding up their Dutch solar portfolio to 443 MW with this transaction.
For LC Energy, established in 2017 by leading UK renewable energy and asset management company Low Carbon and Arnhem-based engineering consultancy and renewable developer QING, the deal represents a major step towards the company’s goal of developing 500MW of large-scale solar in the Netherlands. It is also Low Carbon’s first major solar power deal in mainland Europe, demonstrating the company’s growing international reach and its extensive pipeline of renewable energy projects as we move towards a carbon neutral future.
Each of the sites has been granted planning, a grid connection offer and an SDE+ subsidy contract following a significant programme of investment. By working closely with both Low Carbon and QING, LC Energy has built on its exceptional track record of developing and financing new solar parks.
Commenting on the landmark announcement, Roy Bedlow, Chief Executive and Founder of Low Carbon said: “We couldn’t be more delighted with the incredible work LC Energy has completed in developing this solar portfolio despite the restrictions of the Covid-19 pandemic. Not only is Low Carbon proud to support the Netherlands in its bid to reduce carbon emissions by 49% by 2030 but this project epitomises our emphasis on quality, an approach we take in all renewable energy projects from concept through to delivery. This collaboration with Blue Elephant marks the start of our ambition to deliver renewable energy projects at scale across mainland Europe.”
Martin Ruiter from LC Energy added: “Our management team has an exceptional record of developing high quality solar projects in the Netherlands. This quartet of projects is one of our finest achievements to date, and I look forward to working with Blue Elephant to see all four through to completion.”
Tim Kallas, Chief Investment Officer of Blue Elephant said: “We are delighted to have concluded the first transaction with LC Energy and to add another 48 MWp to our rapidly growing solar portfolio in the Netherlands, now summing up to roughly 443 MWp and increasing our overall renewable portfolio to around 890 MW. We are happy to contribute with each single renewable energy project towards a more sustainable and cleaner energy supply.”
