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Germany’s Leag eyes 1,000 MW solar park in renewables expansion
Published by Jessica Weisman-Pitts
Posted on September 29, 2022
2 min readLast updated: February 4, 2026
Global Banking & Finance Review®
Company
Published by Jessica Weisman-Pitts
Posted on September 29, 2022
2 min readLast updated: February 4, 2026
FRANKFURT (Reuters) – German brown coal miner and power generator Leag unveiled plans on Thursday to build a 1,000 megawatt (MW) solar park that could open in early 2026, as it looks to expand in renewable energy.
FRANKFURT (Reuters) – German brown coal miner and power generator Leag unveiled plans on Thursday to build a 1,000 megawatt (MW) solar park that could open in early 2026, as it looks to expand in renewable energy.
Leag, based in eastern Germany’s Lusatia region, aims to bring 7 gigwatts (GW) of solar and wind output facilities online by 2030, spending 1 billion euros ($972 million) a year, board chairman Thorsten Kramer said in a webcast with reporters.
“We want to start the energy transition now by becoming a leading player in renewables,” he said.
“Lusatia will become a magnet for consumer industries of green power.”
Leag is owned by Czech investor EPH and private equity group PPF Investments.
The 7 GW, roughly matching the company’s current fossil fuel capacity, would comprise around one third solar projects – with modules being sourced in Asia but with a view to perhaps also setting up a local factory – and two thirds wind.
All going well, a doubling of green capacity to 14 GW by 2040 is conceivable, the company said.
The 1,000 MW plant could supply power for around 300,000 households.
Asked about financing, Kramer said Leag would fund most of the investments with its own capital, drawing support from sky-high power prices achievable at current market levels.
The company could repurpose around 33,000 hectares (81,500 acres) of land for mining and power stations, where connecting infrastructure to power grids is in place.
Leag plans to install electrolysers to turn renewable power into storable green hydrogen and, separately, to add several hundred MW in coming years to an existing 50 MW battery storage facility to support grid stability.
The announcements came a day after the German government decided to bring back idled brown coal capacity, including Leag’s Jaenschwalde E and F blocks, from a reserve scheme into the market, in response to the energy crisis.
Germany still aims to end coal power generation by 2038.
($1 = 1.0292 euros)
(Reporting by Vera Eckert; Editing by Rachel More and Mark Potter)
Renewable energy is energy derived from natural sources that are replenished at a faster rate than they are consumed. Examples include solar, wind, and hydropower.
Solar power is energy harnessed from the sun's rays using solar panels. It is a clean and sustainable energy source that can be used for electricity generation.
A solar park is a large-scale facility that uses solar panels to convert sunlight into electricity. These parks can generate significant amounts of power for local or national grids.
Energy transition refers to the global shift from fossil fuel-based energy systems to renewable energy sources, aiming to reduce carbon emissions and combat climate change.
Green hydrogen is hydrogen produced using renewable energy sources, such as wind or solar power, through the process of electrolysis. It is considered a clean fuel alternative.
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