TPSolar Transfers 88 MWp Solar Portfolio to Blue Elephant Energy

Dutch renewable energy developer TPSolar has completed the sale of a 88 MWp solar portfolio to Hamburg-based Blue Elephant Energy GmbH (BEE). The acquisition, finalized on December 20, 2024, includes three solar PV parks in different stages of development across the Netherlands.

The largest project in the portfolio is a 50 MWp PV park located in the northeast of the Netherlands, scheduled for commissioning by late 2025. A 9 MWp park in the southern region is already operational, while another 29 MWp park in the south is set for commissioning in the second quarter of 2025.

Once fully operational, the three parks are expected to contribute significantly to the Netherlands’ climate targets, with projected annual savings of 48,830 tonnes of CO2 emissions and 38,493 cubic meters of water.

“This collaboration with Blue Elephant Energy has been instrumental in achieving our 2024/2025 goals,” said Martin Voigt, CFO of TPSolar. “Our team’s dedication has been crucial in realizing this milestone, and we are excited to continue on our growth path.”

The acquisition expands BEE’s Dutch portfolio to 717 MWp, increasing its total renewable energy capacity to 1,730 MW across nine countries. “This transaction strengthens our partnership with TPSolar and aligns with our commitment to a sustainable future,” commented Tim Kallas, CIO of Blue Elephant Energy.

With this latest investment, both companies reaffirm their dedication to advancing renewable energy infrastructure and supporting Europe’s transition to green energy.