Press Release on 23 December 2014
Capital Stage expands presence in the Italian solar market
Munich, 23 December 2014 – LPA Munich advises Capital Stage on the acquisition of an Ital-ian solar plant portfolio by way of a share deal, shortly after assisting Capital Stage on the acquisition of a French solar plant portfolio. Capital Stage has purchased the German holding company holding all shares in the Italian project companies. The volume of the transaction amounts to approx. EUR 30 million.
The portfolio consisting of six solar plants is located in the region of Venice in northern Italy and is in operation since 2013. With a total power of up to 26.7 MWp, the Capital Stage AG increases the total power of its Italian solar plant portfolio from 31 MWp to up to 58 MWp. The commercial operation of the portfolio will be carried out by Capital Stage AG itself.
Having its seat in Hamburg, Germany, Capital Stage AG focusses on investing in solar and wind plants and is Germany’s biggest independent solar plant operator. With more than 40 wind and solar plants across Europe, Capital Stage’s portfolio currently produces about 390 MW in total. By way of entering into a strategic partnership with Gothaer Versicherungen, one of Germany’s leading insurance companies, Capital Stage will be furnished with EUR 150 million of profit-participation capital in the next 20 years which, according to Capital Stage, will be invested until the end of 2015.
Once more, seller of the portfolio is a project company of GP JOULE, an international power plant project developer based in Schleswig-Holstein, Germany, which will maintain the tech-nical operations of the entire Portfolio.
Advisors Capital Stage AG:
LPA München: Oliver Kirfel, LL.M. (Partner, lead advisor, Renewables/M&A), Andreas Feuerstein (Partner, Renewables/Banking), Marcel Graf (Associate, M&A)
Advisor GP JOULE:
Cornelius + Krage (Kiel): Dr. Modest von Bockum (M&A)
The recent acquisition is the third successful transaction in 2014 jointly realized with the help of LPA’s Munich office. Capital Stage had mandated LPA Munich, partly in collaboration with LPA Paris, relating to the acquisition of two French solar plant portfolios with a total power of up to 90 MWp.
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