Lichtblick Seeks To Build German Wind, Solar Portfolio
May 06, 2022
Germany's Lichtblick SE, which aims to build a portfolio of wind and solar power plants in the domestic market with a combined capacity of up to 1 GW by 2026, is seeking to evolve from a green power distributor to a vertically integrated energy company.
To finance its solar and wind expansion across Germany, Lichtblick and its parent company Eneco will invest 500 million euros ($526.55 million) over the next five years. Lichtblick said on Wednesday (May 4) that the first solar parks will be operational this year.
In addition to its own power plants, Lichtblick will rely on power purchase agreements (PPAs). Currently, energy providers buy electricity from 116 wind farms and 8 solar farms under power purchase agreements.
By 2026, the Hamburg-based company aims to generate 45 percent of profits in the new business area.
In addition to green electricity production, Lichtblick will enter the prosumer segment and establish a new energy services business area. Offers from solar self-operated suppliers will include solar, storage and mobility solutions. Heat pumps will be added in the future. Under its plan, the company seeks to connect around 25,000 detached and semi-detached houses by 2026 to a virtual power plant that will optimise the local energy and carbon balance and sell excess electricity on the market. (1 EUR = 1.053 USD)
