GreenCap is delighted to have acted as exclusive financial advisor to the owners of Norwegian renewables developer Fenix Repower AS on the sale of a majority stake in the business to Arise AB, a NASDAQ-listed renewable energy developer headquartered in Stockholm.

Fenix Repower, with its seasoned local teams based both in Norway and Ukraine, has significant experience in developing and constructing infrastructure projects amounting to over 1 GW of renewable energy projects, including wind and solar PV farms in Ukraine, Norway and elsewhere. With the support of industry leader Arise, Fenix aims to expand its team and pipeline of renewable energy projects in Ukraine and Norway.

Bernt Granås, CEO and founder of Fenix Repower, said: “This strategic partnership allows us to focus on securing and developing projects in Ukraine, at a time when there are many exciting opportunities in the market. The fact that we are substantially contributing to Ukraine’s recovery by further decentralising the country’s energy production is of course a strong driver for us. We are equally excited about the prospect of working together with Arise on establishing a material renewable energy footprint in Norway over the coming years. Overall, we are very pleased with the outcome of the transaction and I want to thank GreenCap Partners for identifying a suitable partner and negotiating this deal for us. Their professional advice and dedicated service throughout the process is highly appreciated by the management team.”

Baris Serifsoy, Partner at GreenCap, commented: “We are particularly proud to have worked on this transaction. The identified pipeline of ca. 300 MW should materially support Ukraine’s effort to increase the share of renewables in the energy mix and enhance energy security for the country. Today’s announcement is particularly timely given the EU’s decision yesterday to commence accession talks with Ukraine – a very positive signal for future investment opportunities. Equally, in Norway, we are convinced that Fenix’s local expertise will contribute to the newly found momentum in the market. We wish the parties all the best for their new partnership.”

GreenCap Partners is delighted to have acted as exclusive financial adviser to the owners of DunoAir, the onshore wind developer based in Trier, Germany, on the sale of their 100% stake to Qualitas Energy, a leading fund manager focused on renewable energy, energy transition and sustainable infrastructure headquartered in Spain.

DunoAir has been active in the development, operation and sale of onshore wind parks since 2004. Its activities stretch across five states in the western part of Germany with a significant development pipeline. Over the years, DunoAir has developed over 200 MW in onshore wind parks.

Arjen Ploeg, CEO and owner of DunoAir, said: “We are very pleased with the outcome of the transaction with Qualitas Energy. We are looking forward to working closely with our transaction partners to ensure a smooth handover of the business in the coming months. I also want to thank GreenCap that managed a lengthy and complex process, and offered a highly professional service throughout. We are grateful for the quality of their advice and support during this transaction.”

Philipp Hirche, Partner at GreenCap, commented: “This transaction highlights the unique attractiveness of Germany for investors, being Europe’s largest renewable energy market. Throughout the highly competitive sales process, we witnessed wide-ranging interest from both international and domestic investors for this well-established onshore wind development platform.

Germany continues to be one of GreenCap’s core growth markets for our advisory business and look forward to cater for future opportunities across both wind and solar.”

GreenCap is pleased to have acted as buy-side advisor to Galileo on its investment in ENVIRIA, a German solar energy start-up which specialises in B2B solar-centric energy solutions and Energy-as-a-Service concepts. 

ENVIRIA will use the new capital to scale up and further develop its solar rooftop solar business, while taking decisive steps towards becoming a leading renewable energy utility aimed specifically at the business sector.

Filippo Chiesa, CIO of Galileo says “We are delighted to become a shareholder of such a dynamic and innovative company, supporting them in their very fast expansion under the leadership of a highly competent and forward-looking CEO. We would like to thank GreenCap Partners for their trusted advice in this transaction based on their dedicated sector expertise, and we are looking forward to completing other deals together.”

Philipp Hirche, Founder and founding partner at GreenCap Partners, commented: “We are delighted to have advised Galileo on this investment in Germany, taking a strategic position in the solar rooftop business, which is poised to scale substantially over the coming years. With this transaction, we continue to strengthen our position as a boutique financial adviser in the renewable energy industry in Germany.”

‍

GreenCap Partners is delighted to have acted as exclusive financial advisor to Octopus Energy on their second acquisition of renewable generation in Germany.

Octopus Energy acquired the Leeskow Onshore Wind Farm (Leeskow) from established German developer UKA. Leeskow is a 34.6MW operational wind farm located in the state of Brandenburg in between Cottbus and Dresden. It consists of seven Nordex N149 turbines with the majority of turbines commissioned in August and September of this year.

Sam Goss, Head of Investments at Octopus Renewables said: “This transaction marks another important milestone for us and significantly bolsters our presence in Germany. We would like to thank GreenCap Partners for their ongoing commitment and state of the art professionalism throughout this transaction. We are looking forward to completing further deals together. GreenCap’s dedicated sector expertise and valuable advice once again helped to deliver a great result for Octopus Energy.”

Philipp Hirche, Founder and Partner at GreenCap Partners, commented: “We are delighted to have advised renowned player Octopus Energy once again on their journey in one of our core markets, Germany, in a complex transaction in a highly dynamic market environment. We thank Octopus for their ongoing trust in GreenCap.”

GreenCap Partners is pleased to have acted as exclusive financial advisor to Octopus Energy Group’s first renewable generation deal in Germany. The deal will enable Octopus Energy Generation’s fund management team to build ‘Gaishecke’, a 35 MW onshore wind farm in Hessen, near Frankfurt. Construction will kick off in the next few weeks and it will become operational by the end of 2023.

Once built, the ten wind turbines made by Vestas will generate almost 100,000 MWh and benefit from Germany’s EEG 2021 feed-in tariff for a fixed 20 years period. Octopus bought the rights for the construction of the wind farm from a consortium of sellers, LindenProjekt GmbH, FH Beteiligungs GmbH and ISB GmbH.

Sam Goss, Head of Investments at Octopus Renewables Limited says “We would like to thank GreenCap Partners for their ongoing commitment and professionalism throughout this transaction and we are looking forward to completing further deals together. GreenCap’s dedicated sector expertise and valuable advice contributed to a great result for our shareholders.”

Philipp Hirche, Founder and Partner at GreenCap Partners, commented: “We are delighted to have advised Octopus on this critical transaction, the result of a complex process which underlines our dedication and capabilities in the German market, which is one of our core markets.”

With this transaction, we continue to strengthen our position as a boutique financial adviser in the renewable energy industry. Our pan-European expertise allows us to prove our M&A proficiency to more opportunities in this highly dynamic market.”