Asset manager Allianz Capital acquires solar projects.
Avantus will continue to oversee procurement, construction and asset management, and the project will be operational as a qualified dispatch unit in 2022.
The project was initially developed by Melink Solar Development and fully contracted for ten years through two power purchase agreements. Electricity and gas provider WEC Energy Group has agreed to acquire an 80% ownership interest in Maarple Flat.
Located in Clay County, Illinois, the project is being developed by Invenergy, a leading global developer and operator of sustainable energy solutions.
The Solar Center is a very environmentally friendly project. The site will have 800,000 solar panels installed on 1,500 acres. The 80% ownership interest is $360 million. The world's largest inverter brand supplier has invested in projects for three consecutive years, and the two parties will also cooperate in developing new development projects in China. The project is expected to be the largest solar photovoltaic power plant in Europe.