VossbergVossberg Solar PV - Germany
Via a capital increase against contribution in kind, Tion acquired this operational solar park located in Vossberg near Letschin in Brandenburg with a total installed capacity of 7.6 MW in July 2021.
The solar park consists of two sections which were commissioned in 2012 and 2013, respectively, and benefit from a legally guaranteed feed-in tariff. The solar park is built on the former site of a sugar factory, therefore, no arable land is covered by the plant. With a specific yield of around 1,000 kWh/kWp the expected annual electricity production of the entire plant is about 7.6 GWh, and total annual subsidized revenue of around €0.9 million are expected. As the German public support mechanism for renewable energy (EEG) provides a floor price but allows for selling electricity in the spot market when prices exceed the floor price, revenues can be higher in periods of high electricity prices, as experienced in 2022. Favorable weather conditions (high irradiation and no extended periods with snow cover during winter) can also contribute to a higher revenue
The contributing company is backed by Markus and Andreas Wirth, the two managing shareholders of WIRTH Gruppe. With them, Tion gained two pioneers of the German solar industry as strategic shareholders. Together with their team, Markus and Andreas have developed and globally built solar plants with an installed capacity of more than two GW, as well as large battery storage systems. As part of the transaction, the two brothers have committed to a two-year lock-up of the shares and made a declaration of intent for a long-term partnership.
