LONDON and THE HAGUE, Netherlands, Oct. 25 /PRNewswire/ -- Good Energies and NIBC Infrastructure Partners have reached an agreement with German solar integrator Q-Cells SE to acquire solar PV plants Finsterwalde II and Finsterwalde III located in Brandenburg, Germany. Together with the adjacent Q-Cells built project Finsterwalde I, the three Finsterwalde projects have a capacity of 81MWp, forming the largest operational solar PV plant in the world.
The projects have been developed and constructed by Q-Cells, and are now fully operational and benefit from an attractive feed-in tariff for 20 years in accordance with the provisions of the German EEG. Q-Cells will continue to carry out the operations and maintenance of the PV plants under a long term contract. The transaction is another landmark renewable energy transaction in Europe for Good Energies and NIBC Infrastructure Partners, which are both experienced investors in the renewable energy sector. The parties have agreed not to disclose the final purchase price. The transaction is subject to a number of closing conditions, and the Financial Close is expected around the yearend.
Joost Becker, Director of Good Energies commented: "Good Energies continues to focus on different parts of the renewable energy value chain, including early stage technologies, mature businesses, and project development and operation. In the last couple of weeks we have announced several new investments in the sector and the Finsterwalde projects perfectly fit the project development and operation part of the business. We are very excited about this investment as part of the further build out of our portfolio."
Darren Kyte, Chief Executive Officer of NIBC Infrastructure Partners adds: "The Finsterwalde solar PV projects build on NIBC's experience in the renewable energy infrastructure sector. This will be our fourth acquisition of an operational renewable energy infrastructure asset during the last 12 months. The acquisition will increase our solar PV portfolio to 86MWp in Europe, and our total renewables exposure to almost 250MW across operational wind, solar and waste-to-energy assets. We look forward to our continued partnership with Q-Cells and Good Energies."
Profile Good Energies
Good Energies is a leading global investor in renewable energy and energy efficiency industries. The firm invests in solar, turbine-based renewables, green building technologies and other areas within clean energy. Founded in 2001, Good Energies manages the renewable energy portfolio of COFRA, a family owned and managed group of companies.
Profile NIBC European Infrastructure Fund
NIBC European Infrastructure Fund (NEIF) is a EUR 350 million Infrastructure Fund investing in member states of the European Union with a focus on the UK, Germany and Benelux. The core investor base of the fund consists of large Benelux pension funds and financial institutions, including NIBC Bank NV. NIBC Infrastructure Partners is the general partner of NEIF and is responsible for all investment and divestment decisions of the fund. The general partner has team members located in London, Frankfurt and The Hague.
The fund's objective is to generate long term stable and predictable cash flows and returns for its investors through long term direct investment in corporate and project based infrastructure assets. The fund's core sectors of investment are renewable energy, waste management, roads and transportation infrastructure, social infrastructure and oil and gas storage and distribution facilities.
SOURCE Good Energies