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    Green Fox Energy to invest heavily in solar power in Germany, Spain


    May 11, 2022 - SeeNews Renewables

     

      May 11 (Renewables Now) - Hamburg-based green power producer Green Fox Energy GmbH is planning to inject about EUR 1 billion (USD 1.05bn) in renewable energy in the next four years with a focus on photovoltaic (PV) projects in Germany and Spain.

      The newly established company has already signed contracts for 300 MW of projects, it said on Wednesday.

      Backed by German energy and real estate entrepreneur Joern Reinecke, Green Fox Energy aims to boost its core business -- the development and operation of solar and wind power plants as well as energy storage solutions mainly in Germany and Spain. Individual projects in other EU countries with a stable political environment are also possible, according to the company's website.

      The power producer noted that it is constantly exploring the market for new investment opportunities.

      The company's investments are focused on grid-connected power plants and ready-to-build projects. However, the purchase of projects in the mid- or late-development stage is also an option if the company is able to ensure that a certain project will reach the shovel-ready stage. In the medium term, it aims to build a portfolio of 1 GW of installed capacity.

      (EUR 1.0 = USD 1.055)

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