Capcora Advises: WINRG Sells Large-Scale German PV Project to Dutch Developer Novar
Frankfurt am Main, Germany - Dutch renewable energy developer and IPP Novar expands its renewable energy portfolio with the acquisition of a planned large-scale photovoltaic project in Germany.
The seller of the project is the regenerative project developer WINRG from Hamburg. The Frankfurt-based consulting firm Capcora GmbH supported WINRG in this transaction as exclusive M&A advisor. The transaction, which was implemented as part of a share purchase agreement, also includes further arrangements for development services.
The solar plant, which is to be built at a site in Lower Saxony, is scheduled to be ready for construction by the second quarter of 2026. Under the leadership of Capcora, Novar was identified as the preferred bidder as part of a structured process.
“Our rapid growth in the competitive German PV market, coupled with our experience from other key European markets, has enabled us to establish partnerships and develop a pipeline of medium and large-scale ground-mounted PV plants,” said WINRG Managing Director David Majert. “Partnering with Novar has proven to be a valuable collaboration, and we eagerly anticipate further expanding our cooperation,” continued fellow Managing Director Norman Nikschtat.
“This project marks a significant milestone in our entry into the German market and underscores our dedication to advancing renewable energy infrastructure in the region. We eagerly anticipate further collaboration with our local partners as we collectively strive towards building a more sustainable future,” said Gerben Smit, CEO of Novar, about the deal.
“This transaction adds substantial value to both parties and highlights the continued growth opportunities in the booming German PV market,” adds Henning Prigge, Director at Capcora.
WINRG was legally advised by Brahms Nebel & Kollegen and Novar by Eversheds Sutherland. K&S Ingenieurpartnerschaft Krug & Schram acted as technical advisor and PwC as tax advisor to Novar. Osborne Clarke supported WINRG as tax advisor and Capcora acted as M&A advisor.
Source: IWR Online, 30 Apr 2024
