CMS advises Luxcara on acquisition of 34.4 MWp UK photovoltaic portfolio from Conergy

Hamburg – Luxcara has acquired five solar parks in the UK for its third renewable energy fund, FLAVEO Infrastructure Europe SCS, SICAV-FIS Solar and Wind. The projects have a total value of around GBP 40million (approximately EUR 52.6million). The solar power plants were constructed on brownfield sites and exhausted farmland, and benefit from a fixed feed-in tariff.

Luxcara is one of the largest asset managers in Europe for renewable energy, managing a portfolio with a capacity of more than 460 MWp. The team has extensive experience in the acquisition, financing and management of portfolios for institutional investors.

The seller is the British subsidiary of solar company Conergy, which specialises in the development and turnkey realisation of large-scale solar plants. Conergy will continue to operate and maintain the solar power plants acquired by Luxcara.

On the CMS side, Tim Stahlberg and Holger Kraft advised Luxcara on the transaction and negotiation of the project contracts. A team headed by Adrian Wright from CMS's London office also supported Luxcara, in particular with regard to the due diligence review. CMS has been advising Luxcara for a number of years on renewable energy projects in Germany, Europe and South America.

CMS Hasche Sigle

Dr Holger Kraft, energy
Tim Stahlberg, energy

CMS Cameron McKenna LLP

Adrian Wright, real estate
Jonathan Groom, real estate
Dalia Majumder-Russell, energy
Robert Garden, planning

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