Publisher: Capcora GmbH
Capcora accompanies ENERPARC on the sales of a 440 MWp solar PV portfolio in Germany and Spain to Ingka Group
ENERPARC sells 440 MWp in Germany and Spain
© CapcoraFrankfurt am Main (renewablepress) - Ingka Investments, the investment arm of Ingka Group, acquires nine solar PV park projects in Germany and Spain from solar PV developer, ENERPARC. The total investment in the solar PV development portfolio will amount to approximately EUR 340 million. Capcora, a German consulting company, acted as the exclusive sell-side M&A advisor to ENERPARC.
The expected energy capacity of the solar PV parks equals 300 MWp in Germany across four solar PV development projects and 140 MWp in Spain across five solar PV development projects. The projects are at early stages and are expected to become ready for construction at the end of 2022, continuing into 2023. The construction itself will take roughly six months. The expected production of the solar PV parks in Germany and Spain is equivalent to the electricity consumption of roughly 140,000 European households and will generate the equivalent of electricity consumption in all IKEA stores and warehouses in the two countries.
“We are delighted to be announcing this important initiative to enable renewable electricity consumption in Germany and Spain, which is another step in accelerating our energy production in Europe and North America. With our own solar parks and wind farms, we want to make renewable energy available throughout the IKEA value chain and beyond” says Krister Mattsson, Managing Director, Ingka Investments.
“This partnership is in line with our dedicated strategy to develop a total of 10 GW solar PV plants for our own portfolio and third-party portfolios until 2030. It is a wonderful signal that Ingka Group and ENERPARC have joined forces to contribute to a world of carbon-neutral energy generation.” says Christoph Koeppen, CEO and chairman of the board at ENERPARC AG.
“We are pleased to have been part of this great transaction between two companies that have been driving the renewable energy industry for years. Cooperations of this kind will become increasingly relevant in the future - experts on the ground help to satisfy the energy hunger of an international corporation.” adds, Jochen Magerfleisch, Managing Partner at Capcora.
On the legal side Ingka Group was advised by Luther, while ENERPARC was supported by Osborne Clarke, Hamburg (Documentation) and Simmons & Simmons, Frankfurt (Due Diligence) in the transaction, with Capcora as their M&A advisor.
About ENERPARC AG
Headquartered in Hamburg, ENERPARC is a leading utility-scale photovoltaic company that covers the entire value chain. The services range from development over design, procurement and construction to operations and maintenance as well as asset management and energy trading. Founded in 2008, ENERPARC has become a global player with 300+ experienced employees and licensed partners in Spain, France, India, and Australia. ENERPARC has successfully commissioned projects with an overall capacity of 3,600 MW and is operating 2,500 MW.
About Ingka Group
Ingka Group (Ingka Holding B.V. and its controlled entities) is one of 12 different groups of companies that own and operate IKEA retail under franchise agreements with Inter IKEA Systems B.V. Ingka Group has three business areas: IKEA Retail, Ingka Investments and Ingka Centres. Ingka Group is a strategic partner in the IKEA franchise system, operating 392 IKEA stores in 32 countries. These IKEA stores had 657 million visits during FY21 and 4.6 billion visits to IKEA.com. Ingka Group operates business under the IKEA vision – to create a better everyday life for the many people by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible can afford it.
Capcora is a consulting firm, specialized on real assets. Capcora procures equity, mezzanine and debt financing for energy and infrastructure projects, real estate, and medium-sized companies. The focus is especially on mezzanine financing for the recapitalization of tied-up liquidity in operating assets as well as for bridge financing of developments and construction measures in the area of renewable energies (photovoltaics, onshore wind) and real estate through alternative financing sources. In addition, Capcora acts as transaction manager for M&A processes (buy and sell side advisory).
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Caption: ENERPARC sells 440 MWp in Germany and Spain
Frankfurt am Main, 07 April 2022
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