Emeren Group Ltd, a global solar project developer, recently announced the successful sale of an 11.5 MWp PV project to Swiss-based energy company MET Group. The project was sold at the Ready-to-Build stage, and MET Group will handle the construction and operation of the power plant. This marks the first project developed to the RTB stage by Emeren Germany GmbH, the Berlin-based subsidiary of Emeren Group, since its entry into the market in early 2021. Capcora, a German consulting company, acted as the exclusive sell-side M&A advisor to Emeren.
The new PV power plant will be located in Kentzlin, in the state of Mecklenburg-Western Pomerania, and commercial operations are expected to commence in the second half of 2024.
Yumin Liu, CEO of Emeren Group, expressed the significance of this project, stating, "This project is an important milestone for our business in Germany and represents our commitment to developing renewable energy infrastructure in the region. We look forward to continuing to work with our local partners to build a more sustainable future."
Bernd Wollwerth-Carl, Director of Emeren Germany GmbH, added, "We are delighted to have sold our first RTB project in Germany. Starting from scratch in 2021, we managed to grow quickly in a competitive German PV market, establishing partnerships and building a pipeline of medium and large-scale ground mounted PV plants. With MET, we found a reliable and competent partner, and we look forward to further expanding our cooperation."
Christian Hürlimann, Renewables CEO of MET Group, commented on the acquisition, stating, "The Kentzlin project fits well into MET's strategic vision to enter the highly competitive German renewables market, as well as to further expand its renewables portfolio across Europe and particularly in Western Europe. Emeren Group's expertise in renewable energy was instrumental in achieving this milestone, and we anticipate future collaboration on additional projects."
Henning Prigge, Director at Capcora, expressed their satisfaction with their role in the project sale, saying, "We are delighted to have played a pivotal role in Emeren's successful project sale to MET Group, a prominent integrated European energy company. Our long-standing partnership with Emeren has allowed us to witness their growth and success, and we couldn't be happier to have been a part of this milestone. This collaboration reinforces our commitment to providing top-notch support and solutions to our valued clients."
Emeren Group Ltd is a leading global solar project developer, owner, and operator with a pipeline of projects and IPP assets totaling over 3 GW. They also have a storage pipeline of over 6 GWh across Europe, North America, and Asia. The company focuses on solar power project development, construction management, and project financing services with local professional teams across multiple countries.
MET Group is an integrated European energy company headquartered in Switzerland. They have activities and assets in natural gas and power markets, with a presence in 14 countries through subsidiaries. MET Group has extensive experience in operating green and flexible energy assets, supporting the energy transition.
Capcora is an independent financial advisory boutique specializing in M&A and project finance services to accelerate the energy transition in Europe. Founded in 2015, the Frankfurt-based company assists clients in the renewable energy and infrastructure sectors through advisory services on sell-side and buy-side transactions, as well as raising debt.