The project was initiated and developed by GEOSOL, whilst Shell Solar is the system supplier and the prime construction contractor. WestFonds has with its acquisition of the solar park and the launch of the closed-end funds WestFonds Solar 1 demonstrated the increasing interest to invest in the renewable energy sector.
Hans Willemsen, Executive Vice President of Shell Solar, said today: This project clearly demonstrates Shells determination and commitment to building a leading and profitable business in solar energy. Shell Solar has strategically been involved in the development of large-scale solar projects in Germany such as this, as we believe that these projects contribute to economies of scale, resulting in an increasing demand in the market for solar (PV) power. We are delighted to have worked with such solid partners like GEOSOL and WestFonds who like us, strongly believe in these kind of projects.
The PV power plant is situated on a former lignite-mine ash deposit in Espenhain near Leipzig, once one of the most polluted areas of Germany. The power plant is built on 21.6 ha of land of which 16 ha are used for the solar system and around 2 ha are dedicated to create a biotope. The modules are mounted on a special designed wooden system of robin wood, placed in 6 rows, with a total of 33,500 modules. The power will be fed into the grid that is operated by enviaM Mitteldeutsche Energie AG.
Shell Solar markets its products in 75 countries and has a workforce of 1,300. To date, Shell Solar has supplied solar cells and modules with a total peak capacity in excess of 350 megawatts. Shell Solar is part of Shell Renewables, a core business of the Royal Dutch/Shell Group of Companies. Shell Solar GmbH is part of the Shell Solar Group.
GEOSOL Gesellschaft Solarenergieis a company founded in 2001 by specialists from the fields of project development, financing, investment funds and photovoltaics. The company founders can look back to 30 years of experience in initiating funds. GEOSOL have set themselves the task of developing and building modern solar power plants. It is GEOSOL´s objective to create profitable and financially interesting capital investments in the photovoltaics sector.
Written by: Shell Solar