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Blue Elephant Energy (BEE) has started construction on the Schafhöfen solar park in Mötzing, Bavaria, marking the launch of one of Germany’s largest ground-mounted solar PV projects. The project will have a planned capacity of around 268 MW and is expected to begin operations in September 2027.
The project is being developed with support from GOLDBECK SOLAR, which is responsible for construction, and Bayernwerk Netz, which will build the substation and grid connection. Commerzbank is involved in financing, while Deutsche Bahn will be the main off-taker of the electricity generated. Once completed, the solar park is expected to produce around 296,000 MWh of renewable electricity annually, enough to supply about 147,000 households or power Deutsche Bahn’s ICE train network. The project is also expected to reduce carbon emissions by around 200,000 tons per year.
The European Bank for Reconstruction and Development (EBRD) is investing €20 million in the first green bond issued by Estonia’s state-owned energy group Eesti Energia. This is part of Eesti’s planned €300 million bond issuance. The bank’s investment will represent 6.7% of the bond, which will be listed on the Luxembourg Stock Exchange Euro MTF market.
Eesti will invest the funds to support renewable energy generation, electricity distribution networks, battery energy storage systems (BESS), and electric vehicle (EV) charging infrastructure across Estonia, Latvia, Lithuania, and Poland. The investment is aimed at strengthening energy security and supporting decarbonization in the Baltic region following the synchronization of the Baltic electricity system with the continental European network. The EBRD said its participation will also support improved governance, cybersecurity, sustainable procurement, and equality measures within the energy sector.
Iberdrola has signed a 10-year power purchase agreement (PPA) with steel producer Gonvarri Industries to supply renewable electricity to the latter’s 8 production facilities across 4 European countries. The agreement covers 26,000 MWh of electricity annually, with around 80% sourced from wind farms and 20% from solar PV installations.
The supply will be backed by guarantees of origin and supported by 15 MW of installed renewable energy capacity. The companies said the partnership aims to support industrial electrification, improve energy cost stability, and help reduce carbon emissions across Gonvarri’s operations.
Bankinter Investment SGIIC and Plenium Partners SGEIC have announced €530 million in financing for a 130 MW solar PV portfolio owned by Helia Renovables IV. The latter is an alternative investment vehicle launched in 2020. The portfolio includes solar assets across mainland Spain, the Balearic Islands, and the Canary Islands. These operate under Spain’s Remuneration Scheme for Renewable Energies, Cogeneration, and Waste (RECORE), with more than 15 years of operational history.
The financing was led by CaixaBank as the main lender, with participation from Abanca through a senior debt structure. The refinancing is intended to optimize the projects’ financial structure. Following the sale of its wind assets earlier this year, Helia Renovables IV now holds solar PV assets in Spain and Italy. The companies said the transaction reflects continued financial sector support for renewable infrastructure investments and strengthens their position in the alternative investment and renewable energy sectors.
Austria-based RP Global has inaugurated the 21 MW Novalja Solar Power Plant on Croatia’s Pag island, marking the company’s first operational solar asset in the country. Announcing its commissioning, the company also acknowledged partners and suppliers involved in the project, including Elnos Group, Solar Steel, LONGi, and Huawei.
The project received financing support from the European Bank for Reconstruction and Development (EBRD) through a senior non-recourse loan of up to €12.2 million under the InvestEU Framework for Sustainable Transition. The project is expected to deliver annual carbon emissions savings of approximately 6,400 tons.
