EDF Renewables Acquires 529 MWp Solar Portfolio from MEC Energy in Germany

Global renewable energy player EDF Renewables has acquired 17 greenfield solar photovoltaic projects with a total capacity of 529 MWp from MEC Energy, a renewable project developer based in Germany.

In the transaction, Capcora, a German consulting company, acted as the exclusive sell-side M&A advisor MEC Energy which is a German project developer and part of the Düsseldorf-based MEC Group.

The sale and purchase agreement with EDF Renewables is for development service for the 17 ground-mounted solar PV projects. Representing a total installed capacity of 529 MWp, the pipeline contains individual project sizes of up to 99 MWp. All solar power projects are expected ready-to-build dates between 2024 and 2025.

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The solar projects acquired by EDF Renewables are situated across Lower Saxony, Saxony-Anhalt, Mecklenburg Western Pomerania and Brandenburg in Germany.

EDF Renewables was identified as the preferred bidder in a structured process led by Frankfurt-based financial advisor Capcora.

Alexander Dierkes, CEO of MEC Energy, said, “We are proud to partner with EDF Renewables, a leading global renewable energy player. The acquisition of our 17 PV projects is a significant step for us and we look forward to continuing our growth in the renewable energy sector.”

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Henning Prigge, Director at Capcora and in charge of the transaction, held, “We are proud to have played a key role in this transaction as exclusive M&A advisor on the sell side, bringing together two committed players in the thriving renewable energy industry in Germany. This acquisition by EDF Renewables further solidifies MEC Energy’s position as a rising player in the solar sector, as they continue to grow and develop innovative projects.”

EDF Renewables is the renewables arm of French power utility EDF. In 2019, the firm acquired a wind projects pipeline of around 300 MW which is currently under development across Germany from wind developer Altus AG. Last year, EDF Renewables began to construct the site on two approved solar farms in the UK, with the projects totalling almost 100 MW every year.