The transaction was structured as a conditional sale and purchase agreement including development service arrangements for the 17 ground-mounted PV projects. Representing a total installed capacity of 529 MWp, the pipeline contains individual project sizes of up to 99 MWp situated across Lower Saxony, Saxony-Anhalt, Mecklenburg Western Pomerania and Brandenburg with expected ready-to-build dates between 2024 and 2025.
EDF Renewables was identified as the preferred bidder in a structured process led by Frankfurt-based financial advisor Capcora. The successful transaction was made possible due to the highly experienced teams on both sides, who ensured a professional and efficient due diligence process, and offers strategic advantages for both companies.
Alexander Dierkes, CEO of MEC Energy, said, “We are proud to partner with EDF Renewables, a leading global renewable energy player. The acquisition of our 17 PV projects is a significant step for us and we look forward to continuing our growth in the renewable energy sector.”
The Seller, MEC Group, combines extensive experience in renewable energies with a background in the IT and Telecommunication sector which is bundled under the brand MEC Energy. Utilizing its expertise, MEC Energy has developed a highly digitized, innovative and scalable site acquisition process.
Henning Prigge, Director at Capcora and in charge of the transaction, comments, “We are proud to have played a key role in this transaction as exclusive M&A advisor on the sell side, bringing together two committed players in the thriving renewable energy industry in Germany. This acquisition by EDF Renewables further solidifies MEC Energy's position as a rising player in the solar sector, as they continue to grow and develop innovative projects.”
The transaction was legally advised by Allen & Overy on the buyer's side, with Partner Max Landshut, and Counsel Dr. Sebastian Remberg, and Associate Juliana Palavra Gorgueira leading the team.
The sell-side legal advice was provided by Watson Farley & Williams, with Partner Dr. Wolfram Böge, and Managing Associate Christian Schindler, and Associate Marian Henkes leading the team.
