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Good Energies and NIBC European Infrastructure Fund Acquire 40mwp of German Solar PV Plants from Qcells

published: 2010-11-01 15:04

Good Energies and NIBC Infrastructure Partners have reached agreement with German solar integrator Q-Cells SE to acquire solar PV plants Finsterwalde II and Finsterwalde III located in Brandenburg, Germany. Together with 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 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”.

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