MaxSolar, a German company that produces renewable energy, has announced that it has obtained €410 million in financing for solar projects throughout Germany. Over the following five years, with the help of the finance, the company will construct 2 GW of solar production capacity. The funds will be dispersed in two installments, each worth $185.1 million and $274.9 million, and it will be used to construct solar capacity from MaxSolar’s project pipeline.
There are now plans in place for Germany to develop 6.5 GW of solar capacity. The finance was provided by three investors: the French investment firms Infranity and Rivage Investment, as well as the US-based company I Squared Capital. Alongside expanding solar capacity, the two investment tranches will be used to develop MaxSolar’s activities along the value chain. The company has highlighted the “recruitment of new talent” as a key area in which it will channel the funding.
In April 2022, Neto’s company Greenvolt acquired 35 per cent of MaxSolar in exchange for $29.17 million. MaxSolar currently operates five solar photovoltaic plants in Germany, including the Maxsolar Reckertshausen solar park, a 10.3 MW project. The largest of MaxSolar’s projects by far, however, is the Bundorf Solar Park, currently under construction, with a projected capacity of 125,000 MW.
