Conergy acquires 100MW of solar farms from stricken Wirol

BusinessGreen staff
clock

Purchase sees company more than double portfolio as it eyes future expansion

Conergy has acquired Wirsol Solar UK for an undisclosed sum, extending its solar farm pipeline to about 200MW.

The deal rescues the 100MW of projects put at risk by the Sussex-based arm of German large-scale developer Wirsol's insolvency, after the company reportedly racked up €60m of debt. About 50MW of the portfolio is ready to be built with the first projects already under construction, while another 50MW of solar capacity is in the development phase. In a statement, Conergy said these plants are expected to be ready to be built during the course of the year.

Conergy was itself plucked from insolvency in October by Miami-based Kawa Capital Management. The following month, the new company sold a 90MW solar farm portfolio that it had developed together with a local partner to an investor while at the same time securing exclusive construction rights for the entire portfolio.

Today's deal is earmarked as a stepping stone towards further expansion through both acquisitions and organic growth.

Alexander Gorski, chief operating officer and Europe chief executive of the new Conergy holding company, said: "The UK is one of the most exciting growth markets for Conergy, especially for the development and the construction of turnkey PV plants. We have a leading position in this market with our project pipeline including solar farms totaling about 200MW.

"In addition to our build expertise, we plan to further strengthen our activities in the project development and financing. After the growth markets in Asia and North America, we are in a position to successfully implement this strategy also in Europe with the target to further expand such investments."

The deal marks the latest development in a busy week for the UK solar farm sector, following the publication of the government's community energy strategy, Foresight's near-completion of £150m of solar farm investment, and solar fund NextEnergy's announcement that it intends to float.

More on Solar

RWE gets green light for 180MW solar and battery storage project

RWE gets green light for 180MW solar and battery storage project

Once operational Stockton project could provide clean power for up to 70,000 UK homes

clock 24 July 2025 • 3 min read
HDM Energies and Paragon launch £100m solar PPA scheme for SMEs

HDM Energies and Paragon launch £100m solar PPA scheme for SMEs

New scheme designed to provide smaller businesses with access to solar power with no upfront costs, allowing them to benefit from fixed discounted rates for over a decade

clock 23 July 2025 • 2 min read
GB Energy: Schools, fire stations, and care homes to share £10m in clean tech funding

GB Energy: Schools, fire stations, and care homes to share £10m in clean tech funding

Great British Energy estimates £10m in clean power project grant funding will deliver £35m in lifetime energy bill savings for public buildings across England

Michael Holder
clock 17 July 2025 • 3 min read