Aventron, HIAG create real estate-focused solar JV in Switzerland

Swiss green power producer Aventron AG and real estate firm HIAG Immobilien Holding AG (SWX:HIAG) have formed a joint venture to undertake solar photovoltaic (PV) installations on HIAG properties.

The new firm, called HIAG Solar AG, is controlled by Aventron with a 51% stake, while HIAG holds the remaining 49%.

The announcement says that HIAG Solar has at its disposal about 65,000 square metres (699,654 sq ft) of module surface area to accommodate 10 MWp of solar power generating capacity. The JV’s goal is to become a major solar power producer in Switzerland in the mid-term. It targets an annual power generation of some 10 million kWh.

HIAG Solar already has four projects in the planning stage and expects to complete them this and next year.

Commenting on the plan, Aventron’s chief executive Antoine Millioud noted that HIAG owns very large roof areas in Switzerland, while the real estate company’s own CEO, Marco Feusi, stated that its existing and planned properties are ideally suited for systematic expansion with PV arrays.

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