The partnership gives Capital Stage access to a number of attractive solar parks in Europe and Mexico over the next three years, with a total generating capacity of some 1.1 gigawatts (GW). Capital Stage therefore has the potential to significantly increase its generating capacity from about 1.4 GW to up to 2.5 GW. All transactions are subject to a due diligence process by Capital Stage. In line with its conservative investment strategy, Capital Stage will continue to take on only ready-to-build (RTB) PV parks that match country-specific IRR benchmarks.
In the first phase of the strategic partnership, Capital Stage will get exclusive access to solar parks in Europe with a generating capacity of more than 360 megawatts (MW). The total investment for these solar parks, including project-related debt financing, will amount to approximately EUR 330 million.
Financing of these solar parks in Europe will be made from existing funding facilities, such as funds raised in September 2017 with the placement of a hybrid-convertible bond by Capital Stage AG, amounting to almost EUR 100 million.
The partnership also gives Capital Stage access to further planned solar parks by Solarcentury in Europe and Mexico, with a total generation capacity of 700 MW. Currently, projects amounting to a total generation capacity of approximately 484 MW are planned in Mexico. This option is contingent upon winning auctions for new solar parks in Mexico in November 2017 and thereafter.
