Capital Stage could double generation portfolio

German solar developer Capital Stage says it could double the size of its renewable energy portfolio thanks to a financing agreement with the Gothaer Group.

The Hamburg-based solar and wind developer announced on its website on Friday that it has secured a long-term strategic partnership which will see Gothaer make available €150 million for the acquisition of solar parks.

According to Capital Group – which has a 313 MW portfolio in Germany, France and Italy and which claims to be Germany’s biggest solar developer – full investment of the funds could equate to €10 million of extra income before taxes and could double the size of Capital’s generating capacity.

It is notable that under the terms of the 20-year agreement, which will see the monies passed to Capital Group subsidiary CSG IPP, the funds will be used for solar projects, with no mention made of wind investments.