Capital Stage to expand solar portfolio with Gothaer Group funds

Nov 17, 2014 - German solar and wind park operator Capital Stage AG (ETR:CAP) will be able to almost double its current capacity of 313 MWp via a renewable energy collaboration with domestic insurer Gothaer Group.

On Friday, Capital Stage unveiled the long-term strategic partnership, under which it will get profit participation rights capital of EUR 150 million (USD 187m) from Gothaer Group for 20 years. The green power producer will use the amount to expand its solar power generation business in Europe.

"In the context of the cooperation with Gothaer Group and corresponding to the investment criteria agreed on, the company will concentrate among else on solar parks in Germany, France and Italy," Capital Stage's CEO Felix Goedhart said. The company, which currently operates both wind and solar parks in Europe, will invest the funds until the end of next year. It presently has access “to a well-stocked and attractive acquisition pipeline,” its head added.

Earlier this year, Gothaer Group unveiled plans to invest between EUR 200 million and EUR 300 million in the renewable energy segment.

(EUR 1.0 = USD 1.249)

Choose your newsletter by Renewables Now. Join for free!