This is a question we hear frequently right now. Not from project developers who want to exit entirely, but from those with a substantial pipeline who need capital for further development.
➡ The common rule of thumb is: sell at Ready-to-Build.
At this stage, the achievable price for the developer is typically highest, while investors generally want to bear as little development risk as possible. Fundamentally understandable.
However, two developments are currently changing the equation:
1️⃣ The costs to reach RtB are rising.
Maturity assessment procedures, preliminary building permits for NTS, and more complex permitting processes now tie up significantly more capital — earlier and over longer periods.
2️⃣ Grid connection commitments are a scarce resource.
German grid operators currently have over 720 GW of grid connection applications for battery storage, while only around 78 GW have been committed so far (Source: PV Magazine, 11/2025).
➡ Realistically, 10–15 GW are expected to be built by 2030. This corresponds to a ratio of approximately 70:1 to 100:1.
The greatest value increase therefore does not occur at the permitting or RtB stage, but already in the transition from a non-binding grid indication to a binding grid connection commitment.
At the same time, an early partial sale can make sense when the capital requirements for development are rising and a suitable investor is available. However, structuring such transactions is demanding and offers considerable room for design — from milestone-based sales to co-development models.
The optimal time to sell is therefore not a fixed point in time, but a strategic portfolio decision that should be regularly reassessed.
➡️ At Voltpark, we know this balancing process from many conversations with developers. That is why we also support project sales through our platform before reaching RtB status.
