Signal Iduna acquires 650-megawatt »Energiepark Witznitz« project

German insurance and financial services group Signal Iduna, in cooperation with its subsidiary Hansainvest Real Assets, has acquired »Energiepark Witznitz« near Leipzig, Saxony. According to Signal Iduna, the project, which is being developed by Move On Energy GmbH, is »still formally subject to the final building permit,« but the ceremonial groundbreaking took place on Wednesday (June 8). Construction work is to begin as early as this quarter. By Q2 2023, a total of 650 megawatts (MW) of total capacity is planned to be installed on 500 hectares of land, as well as 150 hectares of compensatory land, with 45 MW remaining in Move On Energy’s portfolio.
The solar park, in which Signal Iduna is investing a »mid-three-digit million amount,« would thus be the largest in Germany and, at least for the time being, in Europe. The yield of the plant, for which Move On Energy as general contractor will also be responsible for the operational management, is to be marketed via power purchase agreements. Move On Energy, based in Lobstädt (Leipzig district), says it is planning three more »energy parks« with a total capacity of around 1.5 gigawatts in the German states of Saxony, Thuringia and Saxony-Anhalt.

Related News