Royal Cosun, an international agricultural cooperative, has signed a 10-year lease contract with BNP Paribas Leasing Solutions to finance more than 28,000 solar panels located at the Cosun Solar Park in Puttershoek, the Netherlands.
It is the first green financing that Cosun concludes and contributes to the ambition to be CO2 neutral by 2050, the company said in a press release.
The solar farm project investment is expected to generate a total of 9.2 million kWh per year: this is equivalent to the energy consumption of approximately 3250 Dutch households.
The lease construction, developed by BNP Paribas Leasing Solutions, is a first for the financing of solar parks in the Netherlands and internationally one of the first on this scale.
This tailor-made solution offers Royal Cosun more flexibility in financing options for regular investments. The financing of solar parks is a logical next step for BNP Paribas Leasing Solutions in expanding the possibilities for the financial lease of durable goods such as charging stations, LED solutions, E-bikes and solar panels.
Hans Meeuwis, CEO of Royal Cosun:
“This fits in with our aim for maximum energy efficiency and greening of energy use, and helps to further achieve our CO2reduction targets.’
Geert Lippens, CEO of BNP Paribas, Netherlands:
“The collaboration with our partner Royal Cosun is in line with BNP Paribas’ aim to offer clients green financing solutions. It is a striking example of our One Bank strategy: the interdisciplinary collaboration within BNP Paribas Netherlands has resulted in the development of a customer-oriented lease construction that can be added to the wide range of financing options that contribute to achieving the Paris climate goals.”
The 17-hectare Cosun Solar Park is located on the site of the former sugar factory of Cosun Beet Company. This site with industrial purposes will be redeveloped into a sustainable business park with a port of entry. The 7 hectares solar farm, owned by Cosun, is directly connected to the nearby factory of Cosun Beet Company, making the entire electricity consumption of this factory more sustainable.
With the surplus of sustainable energy generated on the solar farm, the factory in Roosendaal will also be made more sustainable. The Cosun Solar Park has more than 65,000 solar panels, of which 10 hectares were purchased at the end of 2020 by the Climate Fund for the Netherlands, which will supply directly to the Dutch energy grid, the company said.