CMS advises Luxcara on acquisition of a British photovoltaic portfolio

Hamburg – Asset manager Luxcara has acquired two more solar parks in the UK from solar company Conergy with a total output of 19.5 megawatts. Luxcara is adding the new projects to its third renewable energy fund, FLAVEO Infrastructure Europe SCS SICAV-FIS – Solar and Wind. The fund portfolio thus now includes solar and wind power projects in Germany, the UK and Norway with total output in excess of 190 megawatts.

The Manor Farm solar park in Wales has an output of 9.5 megawatts, while Laceby solar park in north-eastern England can produce 10 megawatts. Both projects benefit from fixed longterm feed-in rates. Luxcara previously acquired five solar projects in the UK from Conergy at the end of 2015.

On the CMS side, Luxcara was advised by Tim Stahlberg, Carl Werner and Holger Kraft on the transaction and on negotiation of the project agreements. CMS has been providing support to Luxcara on renewable energy projects in Europe for several years.

Luxcara is a leading asset manager specialising exclusively in renewable energy investment for institutional investors. The owner-managed company was founded in May 2009 by sole managing partners Dr Alexandra von Bernstorff and Kathrin Oechtering. Luxcara currently manages a portfolio of solar and wind power plants in Germany, France, Italy, the UK and Norway with total output of just under 500 megawatts and has assets under management of almost EUR 2 billion.

CMS Hasche Sigle

Dr Holger Kraft, Partner
Tim Stahlberg, Counsel, both Energy
Carl Werner, Counsel, Banking & Finance

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