Capcora Advises Joint Venture: Enviria And QEnergy To Develop 500 MW PV Pipeline
Frankfurt am Main, Germany - Solar energy specialist Enviria and recently founded green energy group QEnergy intend to jointly develop a 500 MW PV portfolio of greenfield projects in German. To this end, the companies have concluded a corresponding framework agreement.
The portfolio consists of more than 30 PV projects with project sizes ranging from 2 to 70 MW and planned completion dates between 2023 and 2025, with the majority of the projects to be operated on a merchant or PPA (power purchase agreement) basis. Other parts of the portfolio are expected to participate in the upcoming EEG tenders.
According to Capcora, the transaction represents one of the largest merchant solar project deals in the growing German PV market. For Enviria, it is also the largest renewable energy project to date.
It was structured as a framework purchase and co-development agreement and was originally done with the downstream division “Green Energy Solutions (GES)” of Hanwha Qcells GmbH back in March of 2022. The agreement was transferred to Q ENERGY – a new company into which Qcells’ former GES unit has recently been transformed.
The Q Energy group consists of QEnergy Solutions SE as the holding company and the two subsidiaries QEnergy Europe GmbH (Berlin) and QEnergy France SAS (Avignon). The company offers integrated solutions for green energy in the European power plant market.
On the legal side, QEnergy was advised by Eversheds Sutherland, while Enviria was supported in the transaction by ADVANT Beiten, with Capcora as M&A advisor.
Source: IWR Online, 14 Jul 2022