Conquest acquires second 21MW solar farm in Denmark

Conquest, an asset manager specialising in responsible investment in Europe's infrastructure and energy transition sectors, has acquired a solar photovoltaic park in Denmark from European Energy, an international developer and independent power producer based in Copenhagen.

Located in Mid-Jutland, central Denmark, the solar PV park, called Holmen, is Conquest's second investment in the country. Holmen presents an installed capacity of 20.7 MW. The new ground- mounted solar park will be equipped with single-axis solar trackers and bi-facial modules. Once in operation by the end of the summer 2021, the site will produce 26GWh of green electricity per year, an equivalent to the annual consumption of 7,000 households.

Conquest has been screening opportunities across Europe and elected to invest in the French market in 2017, the Benelux region in 2019, and Denmark in 2020. Conquest is reaffirming its European strategy to support the energy and digital transition of infrastructures. In line with its announced objectives, Conquest is once again marking its strong ambitions in the Nordic infrastructure market.

Today, Conquest's investment portfolio produces 291 GWh of renewable energy per year, which represents the annual consumption of approximately 74,000 homes, and has avoided the emission of more than 63,000 tons of CO2.

Frédéric Palanque, President and founder of Conquest: "We are pleased to announce this new acquisition with our partner, European Energy. This project demonstrates Conquest's willingness and ability to build strong relationships with its contractual partners, project Holmen being the second transaction in 6 months with European Energy. It also illustrates our ability to secure, with private counterparties, power-purchase agreements and to gradually move away from public subsidies, and the development of a long-term partnership with European Energy, a leading partner, who will remain the operator of the solar parks.”

Knud Erik Andersen, CEO of European Energy, says: “We are very pleased to hand over the ownership of this solar park to Conquest and hope to continue the collaboration on future green investments in our broad European portfolio of projects. The park is already connected to the grid and should reach full operating stage this Summer, and we will then continue to take care of the asset, as we will be responsible for the daily operation of its photovoltaic system.”