Excellion Capital acted as exclusive financial advisor to Strasser Capital in connection with its sale of 3 operating solar parks in Italy to Capital Stage AG, a company listed on the Frankfurt Stock Exchange (current market cap: c. EUR 150 million).
The solar farms are located in the Parma, Cesena and Forli areas in the north of Italy and have a combined operating capacity of 11.2 MWp. The transaction is expected to complete in April 2012, following which a subsidiary of Capital Stage AG will assume responsibility for the technical and commercial management of the parks.
The parks were successfully developed by the Strasser Group and its subsidiary MEP and have been cashflow producing since at least 2011. The parks are connected to Italy’s national electricity grid and they jointly generate annual revenues of approx. EUR 5.5 million. This acquisition complements Capital Stage’s first acquisition of Italian solar parks in early 2011.
Strasser Capital is a private investment company based in Munich, focused on renewable energy and infrastructure. It established its MEP subsidiary more than seven years ago to develop and establish solar parks across multiple jurisdictions in Europe. To date, Strasser Capital successfully developed solar parks in Germany, Spain, Italy and the Czech Republic with a combined operating capacity of 115 MWp.
Konstantin Strasser, CEO of Strasser Capital said: "The professional manner in which the sale process was handled throughout confirms to us that we have selected the right partners for this transaction. We are very pleased with the long term partners we have found in both Capital Stage and Excellion Capital."
Excellion Capital is a corporate finance advisory and investment boutique based in London with a focus on UK and German-speaking Europe. This transaction follows closely on the heels of a remarkable series of successful corporate finance transactions recently undertaken by Excellion Capital in the renewable energy industry, including the debt placements by Centrotherm AG which raised a total of EUR 101.5 million, as well as the GBP 50 million equity capital raising of Greenko Group PLC on the AIM Market of the London Stock Exchange.
For further information about this transaction please contact Raffael Johnen, Managing Director at Excellion Capital.
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