Press releases

Frankfurt am Main, 30.04.2024

Novar adds a photovoltaic project in Germany to its renewable energy portfolio and establishes the market entry. The solar PV plant is anticipated to have a capacity ranging from 91 MWp to 156 MWp. The seller of the project is WiNRG, a Hamburg–based renewable energy developer. Frankfurt-based financial advisory boutique Capcora supported WiNRG as exclusive M&A advisor in this transaction.

The transaction was structured through a share purchase agreement, which also included development service arrangements. Situated in the federal state of Lower Saxony, the solar plant is slated to achieve ready-to-build status by Q2 2026.

Novar emerged as the preferred bidder following a structured process overseen by the sell-side M&A advisor Capcora. The success of the transaction can be attributed to the expertise of the teams involved, who facilitated a professional and efficient due diligence process. This deal promises strategic advantages for both companies involved.

“We are thrilled to announce the successful sale of a significant project from our pipeline. Our rapid growth in the competitive German PV market, coupled with our experience from other key European markets, has enabled us to establish partnerships and develop a pipeline of medium and large-scale ground-mounted PV plants.”, says David Majert, Managing Director at WiNRG. “Partnering with Novar has proven to be a valuable collaboration, and we eagerly anticipate further expanding our cooperation.”, adds Managing Director colleague Norman Nikschtat.

“This project marks a significant milestone in our entry into the German market and underscores our dedication to advancing renewable energy infrastructure in the region. We eagerly anticipate further collaboration with our local partners as we collectively strive towards building a more sustainable future.”, says Gerben Smit, CEOat Novar.

“We are delighted to have contributed significantly to WiNRG's successful project sale to Novar, a leading Dutch renewable energy developer and IPP. This transaction adds substantial value to both parties and highlights the continued growth opportunities in the booming German PV market.”, adds Henning Prigge, Director at Capcora.

Legally, WiNRG was advised by Brahms Nebel & Kollegen, and Novar was advised by Eversheds Sutherland in the transaction. K&S Ingenieurpartnerschaft Krug & Schram acted as a technical advisor to Novar, while PwC acted as a tax advisor. Osborne Clarke was supporting WiNRG as a tax advisor, while Capcora acted as an M&A advisor.

About Novar:

Novar, formerly Solarfields, leverages years of experience as a leader in large-scale solar projects and green energy systems. Their vision extends beyond solar to embrace interconnected, sustainable energy systems, integrating generation, storage, and delivery. Novar pioneers new technologies like battery storage and hydrogen, aiming for an integrated, hybrid, and intelligent energy supply. www.novar.nl/en/

About WiNRG:

WiNRG GmbH, based in Hamburg, specializes in renewable energy projects globally with a strong focus on project development of ground-mounted PV plants in Germany. Their services encompass in addition to the own project development, the evaluation and coordination of acquisitions and construction supervision for wind and solar plants. Additionally, they offer long-term O&M services. Established in 2005, the experienced team at WiNRG facilitates profitable investments for family offices and institutional investors worldwide. www.winrg.de

About Capcora:

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 helps its clients succeed in the renewable energy and infrastructure sectors by advising them on sell-side and buy-side transactions, and by raising mezzanine, unitranche or senior debt.