Capcora Leads Bidding Process: Chint Sells PV Portfolio With Almost 200 MW in Hungary

Frankfurt am Main, Germany - The solar company Chint Solar Europe has sold five photovoltaic projects in Hungary with a total output of almost 200 MWp through its subsidiary Chint Solar Hungary Projects.

The buyer of the projects is the Chinese energy group Shanghai Electric Power, which was identified in a structured bidding process led by the German consulting firm Capcora. Capcora acted as Chint's exclusive sell-side M&A advisor. The signing and conclusion of the purchase agreement took place in December 2022.

The photovoltaic portfolio, consisting of five individual ground-mounted solar parks, is located in northern Hungary and has a total capacity of almost 200 MWp, with each project ranging in size from 29 to 51 MWp. The portfolio is scheduled to be built from the second quarter of 2023 and expected to be fully operational by 2024. As part of the sale, it was agreed that the portfolio would be handed over turnkey. Both parties have agreed not to disclose the purchase price.

On the legal side, Shanghai Electric was advised by Schoenherr, while Chint was advised on the transaction by Kinstellar, with Capcora as M&A advisor.

About the companies

Chint Solar was founded in 2006. In addition to specializing in the manufacturing of crystalline modules, Chint Solar is also active internationally as a service company in the areas of project development, financing, implementation and operation of solar parks. In 2016, Chint Solar established its own European project development team to develop projects in Germany, the Netherlands, Spain, Portugal, Italy, France, Hungary and the United Kingdom.

Shanghai Electric Power Co.Ltd. is principally engaged in the generation and transmission of electricity and heat, as well as operation and maintenance, and utility business (including power distribution). State Power Investment Corporation, one of China's five largest state-owned power generation groups, is the parent company of SEP.

Capcora is a real assets consulting firm specializing in M&A and project finance services. Founded in 2015, the Frankfurt-based company supports its clients in the renewable energy and infrastructure sectors in sell-side and buy-side M&A transactions, as well as in raising mezzanine, unitranche or senior debt.

Source: IWR Online, 14 Apr 2023