Dutch ground-mounted solar PV firm and independent power producer (IPP) Novar has announced the acquisition of a substantial solar project in Germany, with an anticipated capacity ranging between 91 MWp and 156 MWp.
The acquisition, facilitated by financial advisory firm Capcora, involved the purchase of the project from Hamburg-based renewable power projects developer WiNRG, as disclosed in a statement released on Wednesday.
The forthcoming solar facility, slated to be situated in Lower Saxony, is projected to attain a ready-to-build status by the second quarter of 2026, marking a significant milestone in Novar's expansion trajectory.
Established in 2014, Novar has established itself as a key player in the deployment of various renewable energy systems, including solar, battery energy storage, hydrogen production, and heat storage. With a portfolio encompassing over 600 projects, the company has set its sights on achieving a formidable 4-GW portfolio of renewables by 2030.
Commenting on the acquisition, a spokesperson for Novar remarked, “This acquisition aligns seamlessly with our strategic vision to expand our footprint in key markets, solidifying our position as a leading player in the global renewable energy sector.”
Novar's ambitions are bolstered by the backing of global infrastructure investment manager DIF Capital Partners, which acquired a majority stake in the company in 2023.
