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Greencells Group signs joint development agreement for 237 MWp Solar in Italy and the Netherlands with Blue Elephant Energy

Saarbrücken, 21 January 2021 –Greencells Group (“Greencells”), a global service provider for the development, construction, and maintenance of utility-scale solar power plants, and Blue Elephant Energy AG (“BEE”), a Hamburg-based independent operator of solar and wind power plants, have entered into a joint development agreement for a portfolio of 237 MWp of solar capacity in Italy and the Netherlands.

The portfolio includes six solar projects in the region of Puglia in Italy with a total planned capacity of 158 MWp and seven solar projects in the Netherlands with a total planned capacity of 79 MWp. The projects are at an advanced stage of development. The first projects will reach ready-to-built status by 2022. The complete connection of the entire portfolio to the electricity grids is expected by 2025 at the latest.

The portfolio will contribute to a reduction of global CO2 emissions by approximately 268,000 tons and will account for the annual electricity consumption of 96,000 households once completed.

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