Stibbe advises Floating PV

BE Law

Stibbe acted as a transaction counsel to Floating PV NV, a vehicle set up by Sibelco, Groep Machiels and Luminus to build five hectares of floating solar panels at Sibelco’s Schansheide quarry in Dessel, Flemish Region, Belgium, integrating various innovative techniques such as solar tracking that allows the panels to rotate with the sun, an adjusting slope angle, double-sided panels and active cooling.

The floating solar panels will have a capacity of 5 megawatts. This will enable the generation of 4,850 megawatt hours of green electricity – or the equivalent of the consumption of approximately 1,200 households. The Flemish Government is supporting the project with an investment of EUR 2 million.