re:cap advises on acquisition of EEG and PPA projects

FP Lux Investments buys German 27.5 MWp PV portfolio from Vattenfall

Zug, 9th December 2021. FP Lux Group acquires a PV portfolio with a total capacity of 27.5 MWp for its RE Infrastructure Opportunities fund. The solar plants are located in Mecklenburg-Western Pomerania. A total of 11,000 households can be supplied with renewable energy, saving around 20,000 tons of CO2 per year. The portfolio consists of three parts: Two solar parks, each with 10 MWp and 7.5 MWp capacity, benefit from an EEG surcharge, while a long-term Power Purchase Agreement (PPA) has been concluded with Vattenfall Energy Trading for the third project with 10 MWp. The seller and project developer is Vattenfall Deutschland GmbH. The transaction was accompanied by the international investment advisor re:cap global investors ag.

With the acquisition of the solar parks, the RE Infrastructure Opportunities portfolio grows to around 270 MW of installed capacity. Thomas Seibel, CEO of re:cap global investors ag, says: “By investing, institutional investors have the opportunity to participate in a renewable energy portfolio that is broadly diversified both geographically and technologically and to benefit from ongoing cash flows. Even though PPAs play an increasingly important role in our strategy, in the RE Infrastructure Opportunities portfolio a large proportion of the projects are secured with attractive feed-in tariffs. The new photovoltaic projects are therefore an important element for further diversification of our portfolio and we are very pleased to have Vattenfall as a long-term partner.”

The RE Infrastructure Opportunities was designed specifically for institutional investors and invests in various technologies such as solar, wind, hydropower and battery storage. The portfolio currently comprises a total of 31 projects with a total capacity of around 300 MW. Through technological and geographical diversification, the fund achieves a smoothed return profile at portfolio level. The current investment focus is on photovoltaic projects in European core markets such as Germany, Denmark, the Netherlands, France, Sweden and Spain. The RE Infrastructure Opportunities target IRR is seven percent per year after costs over a remaining fund life of approximately 12 years. Investments are possible from one million euros.