Solar Park Partnership

A 1.8 MW solar array planned for Southern Germany will be the joint effort of Shell Solar and BZG Group AG, of Germany. Yearly output of the Euro 1.8 million – US $2.21 million – photovoltaic (PV) project should supply 450 average households with environmental friendly and reliable energy.

Amsterdam, Netherlands – July 7, 2004 [] BZG manages the value chain of energy production projects such as planning, financing, execution and management of Wind parks, solar arrays and Biomass power stations. This is the first PV project for the finance and management holding company. Siemens will supply the inverters for the park, and will be responsible for maintenance at the site. “We have observed the developments in the market for a long time,” said Christian Clausen, who is the CEO for BZG. “With the new EEG law coming into place in the beginning of 2004 the economic framework for the company has improved significantly.” The Erneuerbare-Energien-Gesetz (EEG) is legislation passed in 2000 by the German government to help open the door for a renewable energy market. The overall objective of the law is to contribute toward doubling the share of renewable energy in the electricity market from 5 to 10 percent by 2010, and initiate a self-sustaining market by compensating for the distortions in the conventional electricity market. This should also help to create critical mass through a massive market introduction program that does not lead to any additional burden for the taxpayer.
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