EDPR acquires a majority stake in Kronos Solar
Munich, July 29th 2022 – The founders of Kronos Solar Projects GmbH (“Kronos”) have reached an agreement to sell a 70% stake in the company to EDP Renováveis, S.A. (“EDPR”), a subsidiary of EDP group focusing on renewable energy production. The founders will retain a 30% stake in the company and continue to be involved in the daily management of the business. more
Global Solar DevelopmentGLOBAL
Founded in 2009, Kronos Solar is successfully around for more than a decade. We are a Solar Powerhouse at the very heart of the Green Power Transition. Kronos Solar makes utility scale solar farms happen internationally across numerous countries. As a fully integrated Solar Development Player, we initiate and develop solar farms, we structure the finances, and we build, own and operate projects over the complete lifetime. Kronos Solar takes pride in being one of the most successful Solar Park Developers globally, with a track record quickly pushing towards the 2 Gigawatt mark.
Strategy & DistinctivenessSTRATEGY
At Kronos, we control the complete PV downstream value chain, with a strong focus on the mission critical Project Development & Origination. Project Origination & Development at Kronos is always performed in-house, across all countries of business. By controlling this crucial element of the Downstream Solar Value Chain, we ensure Solar Parks of greatest quality and cost competitiveness in the later stages of giving birth to the projects.
Through our Hybrid Development Teams, consisting of Centrally located Platform Managers and Local Country Teams, we enable cross country learning and trouble-shooting, and we are able to develop projects at a speed, that is unrivalled in the industry.
Based on the Hybrid Development Teams, we can also flexibly allocate competencies ad staff across country teams, to scale up flexibly, where and when needed.
As part of our strategy, we flexibly apply a full IPP model (operate and own) or we selectively sell assets to financial markets following construction.