Swedish state-owned energy company Vattenfall has bought German solar developer Solizer for an undisclosed amount.

Vattenfall has assimilated a pipeline of large-scale solar projects in the country, totalling 4GW.

The first projects from the newly purchased portfolio will begin construction in 2024.

The company’s solar portfolio in Germany has grown to 7GW.

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Vattenfall senior vice-president and business area wind head Helene Biström stated: “Germany is a core market for Vattenfall’s solar development. Solar is cost-competitive and can be built subsidy-free, which is important in meeting the rapidly increasing demand for low-cost solar power from customers.

“By adding Solizer’s development projects and know-how to our portfolio, we continue on our renewables growth path.”

With a recent drop in the cost of solar panels, Vattenfall is looking to continue expanding its solar portfolio across its core markets.

Earlier in 2023, the company took the final investment decision on the 76MW Tützpatz agrivoltaic project in Mecklenburg-Western Pomerania, Germany.

The project will have a dual function, using space between the solar panels for agricultural purposes. The 95-hectare facility will be built without state subsidies.

The start of construction in the early summer of 2023 marks the company’s first such project on a commercial scale with partners.