PV Expansion: Aracari And Vestinas Solar Establish Joint Venture For Solar Parks With Up To 500 MW

Frankfurt am Main, Germany - The project developer for photovoltaic plants Aracari and Vestinas, an investment company of the Doric Group and its shareholders, have established a strategic joint venture.

The aim of the joint venture, which will operate under the name Aracari Solar GmbH, is to develop and market ground-mounted photovoltaic power plants in Germany. In the next few years, solar parks with a total capacity of up to 500 megawatts (MW) are to be brought to the ready to build stage. The Frankfurt-based consulting firm Capcora acted as M&A advisor on the side of Aracari.

The long-term partnership is designed to develop innovative solar parks throughout Germany. In close cooperation with landowners, municipalities, public utilities and grid operators, new solutions are to be found to advance the energy transition and contribute to energy independence. The first projects should be ready for construction in the first half of 2023. In addition to its own experience, the joint venture has access to a comprehensive network in the photovoltaic, real estate and financing sectors.

Vestinas has contributed an initial capital injection in Aracari Solar and will support the development of specific projects with respective financing commitments. The focus of the company's activities is on solar parks outside the EEG with an area of at least eight hectares throughout Germany.

About the companies

Aracari is a provider of holistic system solutions for ground-mounted photovoltaic power plants based in southern Thuringia. The company has comprehensive know-how in all areas of the solar park value chain, from development, financing and construction to operation and repowering.

Vestinas Solar, a subsidiary of Vestinas GmbH, invests in solar projects in the early stages up to construction maturity. Vestinas is an investment company of the Doric Group and and the Group’s shareholder. The Doric Group offers bespoke investments with a focus on renewable energy, real estate and transport. In 2021, the investment volume under management was USD 9 billion.

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. In addition, Capcora acts as transaction manager for M&A processes (buy and sell side advisory).

Source: IWR Online, 08 Nov 2022