Capcora, a German consulting company, acted as the exclusive sell-side M&A advisor to MEC Energy, a German project developer and part of the Düsseldorf-based MEC Group. In the transaction, EDF Renewables, a leading global renewable energy player, acquired 17 greenfield photovoltaic projects with a total capacity of 529 MWp from MEC Energy in Germany.
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.
About MEC Energy
As a company of the MEC Group, MEC Energy is a specialist in project development in the renewable energy sector with a focus on ground-mounted as well as rooftop PV systems and onshore wind. The company combines experience in the consultancy sector with many years of expertise in project development in the energy sector.
MEC Energy supports energy projects from planning via approvals to implementation. In addition, the company supports landowners in realising a long-term passive income.
www.mec-group.com
About Capcora
Capcora is a consulting firm, specialized on real assets. Capcora procures equity, mezzanine and debt financing for energy and infrastructure projects, real estate, and medium-sized companies. The focus is especially on mezzanine financing for the recapitalization of tied-up liquidity in operating assets as well as for bridge financing of developments and construction measures in the area of renewable energies (photovoltaics, onshore wind) and real estate through alternative financing sources. In addition, Capcora acts as transaction manager for M&A processes (buy and sell side advisory).
www.capcora.com
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