June 16 (Renewables Now) - Spanish renewable power producer Grenergy Renovables SL (BME:GRE) has entered the German market where it hopes to achieve a solar project development pipeline of at least 3 GW by 2025.
The company said in a statement that its entry into Germany is encouraged by the introduction of the REPowerEU plan to cease Europe’s dependence on Russian fossil fuels by the end of the decade. Germany alone aims to reach an 80% renewable power share in the same period and has set a 2030 solar target of 215 GW.
Grenergy plans to participate in public auctions in Germany and to pursue private power purchase agreements (PPAs) as well. It said that a country manager with extensive experience in the sector will lead a local team of 15 employees from new offices in Berlin.
Overall, the company has a global pipeline that exceeds 11.5 GW of projects in various stages of development in Europe, North America and Latin America.