EMMVEE has sold Solarpark Bronkow to RheinEnergie
EMMVEE Solar Systems Private Ltd., an Indian producer of mono- and polycrystalline photovoltaic modules, has sold Solarpark Bronkow Luckaitztal GmbH to RheinEnergie, a German utility.
Solarpark Bronkow, situated near Berlin, has an installed capacity of 11.4 MWp and a specific energy yield of 1,027 kWh/kWp. EMMVEE’s project development division developed the park which started operation in 2012. Generated power is sold under the German feed-in tariff regime (Erneuerbare-Energien-Gesetz – EEG) which enables a stable cash flow generation over approx. 20 years. The buyer RheinEnergie is a utility company of the Cologne area. The acquisition of the solar park confirms its strategy to constantly grow its renewable energy generation portfolio. The parties agreed not to disclose any financial terms.
EMMVEE, headquartered in Bangalore in India, is a producer of mono- and polycrystalline photovoltaic modules with an annual production capacity of 130 MWp and 650 employees. In addition, EMMVEE offers solar thermal heating systems and toughened solar glass. The project development division, so far, has developed projects mainly in Germany, India and Italy. In Germany, one of its major sales markets, EMMVEE has offices in Berlin and Heppenheim.
RheinEnergie, one of Germany’s major regional utilities and headquartered in Cologne, generated a turnover of Euro 2.4 billion in 2012 and has 3,100 employees. RheinEnergie supplies approx. 2.5 million people as well as industrial and commercial companies with power, gas, water, steam and heat. Next to conventional gas and coal power plants, RheinEnergie operates wind, photovoltaic and bioenergy power plants.
Lincoln International was mandated by EMMVEE as exclusive M&A advisor for the sale process. The successful sale highlights Lincoln International’s strong position in the cleantech sector as well as its international focus.
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