Garsten/Hamburg. 04.02.2022. The private bank Berenberg and the international photovoltaic expert CCE Holding start their cooperation with two successful transactions at once. Those are related to the acquisition and construction of the Italian solar park “Montalto di Castro”, as well as the acquisition of the operational Chilean solar park “La Huella”. Both transactions will be financed by the Berenberg Green Energy Junior Debt Funds II and III together with CCE Holding and its investor Ärzteversorgung Thüringen. Berenberg acts as investment advisor to the fund.
The operational La Huella solar park is located in the Atacama Desert in Chile and has a capacity of 87 MWp. The solar radiation near the equator is one of the highest on the entire globe. The photovoltaic power plant was developed and constructed by the shareholders of CCE Holding. The construction phase of the showcase project was fully financed by Ärzteversorgung Thüringen, which is also a shareholder of CCE Holding. Montalto di Castro, the construction-ready 41 MWp solar park, is located in the Lazio region of Italy. Construction of the project, which is divided into two sub-parks, is scheduled to start in the first quarter of 2022 and the project will be completed by mid-2023. Both solar parks provide a natural hedge for the portfolio due to the opposing summer and winter periods.
The acquisitions of La Huella and Montalto di Castro are the first investments of a large project pipeline for CCE Holding in Chile and Italy. Martin Dürnberger and Jörg Menyesch, Managing Directors of CCE Holding stated: “We are extremely pleased to have found Berenberg as a long-term and competent financing partner that fits very well with our overall international growth strategy in South America and Europe.”
Torsten Heidemann, Head of Infrastructure & Energy of Berenberg said, “We are pleased to start our trustful business relationship with CCE in parallel with two projects and to enter the Chilean market together. For the debt funds we have launched, La Huella is the first project in South America and the Chilean market is particularly interesting for us and our investors due to its attractive PPA structures. In Italy, the market for photovoltaic projects such as Montalto di Castro is developing very well after the expiry of the feed-in tariff and represents an attractive target market for us. Last year, we financed six projects in Italy alone.”
Berenberg was founded in 1590 and is today one of Europe’s leading private banks with its Wealth and Asset Management, Investment Bank and Corporate Banking divisions. The Hamburg-based bank is managed by general partners and has a strong presence in the financial centres of Frankfurt, London and New York. The Infrastructure & Energy business segment, which is part of Corporate Banking, advises clients and investors on all transaction, financing and project-related issues. Under the names Berenberg Green Energy Junior Debt Fund I II and III, Germany’s oldest private bank has already launched three junior debt funds for professional investors with a total volume of around EUR 600 million. With the fourth Renewable Energy Debt Fund, lately launched end of 2021, Berenberg is further expanding its debt fund portfolio. The funds finance renewable energy investments worldwide in the form of junior debt and meet the high requirements of investors both in terms of their diversification and the implemented risk-return profile. At the same time, Berenberg accelerates the global energy transition and thus make an important contribution to the environment. More information: www.berenberg.com; LinkedIn: www.linkedin.com/company/berenberg-bank
About CCE Holding
CCE Holding was founded from a joint venture of the two photovoltaic specialists Clean Capital Energy from Austria and enernovum from Germany together with Ärzteversorgung Thüringen. The company, headquartered in Vienna, Austria, focuses on the development, realisation, financing and management of large-scale ground-mounted PV systems as well as commercial rooftop PV installations. With its solution-oriented approach, reflecting many years of experience in the entire value chain, the company aims to make an important contribution to the global energy transition. In addition to Austria, the company is currently active in Italy, France, the Netherlands, Germany, Romania and Chile.
Phone: +49 40 350 60 83 57
CCE Holding GmbH
Phone: +43 (0) 50 264 – 0
Menyesch PR GmbH (Enernovum)
Phone: +49 40 3698630
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