DGAP-News: Capital Stage AG / Key word(s): Miscellaneous/Alliance
Capital Stage AG enters a long-term strategic partnership with solar developer Solarcentury
Capital Stage secures exclusive access to selected projects owned by integrated solar developer and operator Solarcentury, with a total generation capacity of 1.1 gigawatt (GW) // Total capacity to increase from 1.4 GW to 2.5 GW in the next three years if all projects materialise // Capital Stage, in a first phase, will have exclusive rights to solar parks from Solarcentury in France, the Netherlands and Spain totalling some 360 MW // This partnership will strengthen Capital Stage's market position as one of the leading European renewable Independent Power Producers (IPPs) and creates a solid platform for more predictable future growth
Hamburg, 2 November 2017 - The SDAX-listed, Hamburg-based solar and wind park operator Capital Stage today announced that it has entered a strategic partnership with Solarcentury, one of the leading international solar farm developers and operators. The partnership gives Capital Stage access to a number of attractive solar parks in Europe and Mexico, over the next three years, with a total generating capacity of some 1.1 GW. Capital Stage therefore has the potential to significantly increase its generating capacity from about 1.4 GW to some 2.5 GW. In line with its conservative investment strategy, Capital Stage will continue to take on only Ready-to-Build (RTB) PV parks that match country-specific IRR benchmarks.
Dierk Paskert, CEO of Capital Stage AG, commented: "The strategic partnership with Solarcentury is an important milestone for Capital Stage. It gives us exclusive access to a highly attractive asset pipeline in close cooperation with a veteran solar power developer and operator. Furthermore, it marks the transition to a more transparent and plannable growth strategy. Strategic partnerships like this will allow us to continue to expand our portfolio of solar and wind assets, and introduce new technologies such as energy storage."
Frans van den Heuvel, CEO of Solarcentury, added: "With this framework agreement, Solarcentury becomes a fully integrated platform that develops, constructs and operates solar and storage assets. Our partnership with Capital Stage will further boost Solarcentury's advanced international expansion plans, particularly in our core target markets throughout Europe and Latin America."
In the first phase of the strategic partnership, Capital Stage will get exclusive access to solar parks in Europe with a generating capacity of some 363 MW. These include a 300 MW solar PV plant in Spain, a 46 MW solar PV plant in the Netherlands and a 17 MW solar PV plant in France. Capital Stage will invest in these RTB parks on a fully or majority-owned basis. Solarcentury is entitled co-invest in each park. The transactions are subject to a due diligence process by Capital Stage. The total investment for these European solar parks, including project-related debt financing, will amount to approximately EUR 330 million.
Financing of these exclusively offered solar parks in Europe will be drawn from existing funding facilities, such as funds raised recently with the placement by Capital Stage AG of a hybrid-convertible bond, amounting to almost EUR 100 million.
The partnership also gives Capital Stage the option to take majority or even 100% stakes in planned solar parks by Solarcentury. This encompasses parks offering additional capacity of more than 700 MW in Europe and Mexico. Currently, projects amounting to a total generation capacity of approximately 484 MW are planned in Mexico. This option is contingent upon winning auctions for new solar parks in Mexico in November 2017 and thereafter.
Additionally, the strategic partnership also comprises potential additional access to the very dynamic secondary renewable energy market in the United Kingdom (UK), the home market of Solarcentury. As a leading solar park developer and operator in the UK, Solarcentury knows all the major participants in the market and has access to asset owners with a generating capacity of around 700 MW.
In addition, working with Solarcentury gives Capital Stage access to a partner offering integrated capabilities across co-investment, development, construction and operation, further improving its profile as long-term strategic investor and operator.
About Capital Stage AG:
Capital Stage invests in and operates solar and wind parks in Europe and is one of the leading independent power producers (IPPs) in the fields of renewable energies. Including the solar and wind parks acquired and operated as part of the asset management business for third parties, the current portfolio consists of 162 solar and 53 wind parks with a total installed base of some 1.4 GW. With its solar and wind parks, the company generates attractive yields as well as continuous and predictable income.
The Capital Stage AG share is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange and on the regulated market of the Hamburg Stock Exchange (ISIN: DE0006095003 / WKN: 609500). Since 2014, the Capital Stage AG share has been included in the SDAX index of Deutsche Börse.
You can find further information on the company at www.capitalstage.com.
About Solarcentury Ltd.:
Solarcentury is one of the most respected solar companies in the world. Founded in 1998, Solarcentury has been around since the early days of the solar industry and is part of the rapid evolution that has made PV the mainstream energy source that it is today. Solarcentury has put solar on a greater variety of sites than any other company in the industry, and has won multiple awards for product innovation.
The company offers an integrated end-to-end service: developing, structuring finance, building and operating solar projects at commercial and utility scale. Solarcentury works with partners to bring solar to their customers' homes. Solarcentury is committed to making solar more accessible and attractive, via its own building integrated PV (BIPV) products or investment into storage and diesel hybrid. Their customers benefit from their experience in terms of engineering quality, financial stability and sheer breadth of deployment.
Solarcentury is global and growing, with offices in the UK, the Netherlands, Kenya, South Africa, Chile, Panama and Mexico; with representation in Germany, France and Spain.
You can find further information on the company at www.solarcentury.com
Capital Stage AG
Head of Investor & Public Relations
Capital Stage AG
Große Elbstraße 59
Fon: + 49 40 37 85 62-242
Fax: + 49 40 37 85 62-129
|Company:||Capital Stage AG|
|Große Elbstraße 59|
|Phone:||+49 4037 85 62 -0|
|Fax:||+49 4037 85 62 -129|
|Listed:||Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|