EDF Renewables acquires 17 greenfield photovoltaic projects
EDF Renewables has announced the acquisition of 17 photovoltaic projects in Germany developed by MEC Energy, with a total capacity of 529 MWp. This acquisition strengthens EDF’s presence in Germany as part of its renewable development strategy.
| Sectors | Solar Energy, Photovoltaic |
|---|---|
| Themes | Investments & Transactions, Financing, Project Development |
| Companies | EDF Renouvelables |
The EDF Renewables Group has announced the acquisition of 17 greenfield photovoltaic projects in Germany. With a total capacity of 529 MWp, these projects are developed by MEC Energy, a German subsidiary of the Düsseldorf-based MEC Group.
Projects located in the north and north-east of Germany
The photovoltaic projects are located in the north and north-east of Germany, more precisely in Lower Saxony, Saxony-Anhalt, Mecklenburg-Western Pomerania and Brandenburg. They are part of EDF’s CAP 2030 strategy, which aims to more than double its net renewable capacity from 28 GW to 60 GW between 2015 and 2030.
An acquisition based on a conditional sale and purchase agreement
EDF Renewables was selected as the preferred bidder following a process initiated by MEC Energy in 2022. The transaction was based on a conditional sale and purchase agreement, including development service agreements for the 17 ground-mounted photovoltaic projects. These projects are expected to be commissioned between 2024 and 2025.
This acquisition adds to EDF Renewables’ existing portfolio of approximately 180 MW of onshore wind power in Germany. It thus contributes to the German government’s climate target of 80% renewable electricity by 2030.
A beneficial cooperation for MEC Energy
In the meantime, the MEC Energy team has access to EDF Renewables’ project execution, utility experience, financial position and international network through this cooperation. MEC Group combines extensive experience in renewable energy with experience in the IT and telecommunications sector under the MEC Energy brand.
Encouraging prospects for both companies
Johnathan Fraser, CEO of EDF Renewables Germany, welcomed the transaction, which will enable the company to support the local energy transition in Germany with 529 MWp of new PV projects by 2025. Alexander Dierkes, CEO of MEC Energy, said the acquisition of the 17 PV projects is an important step for the company, which is looking forward to further growth in the renewable energy sector.
Capcora acted as exclusive M&A advisor to MEC Energy.
