Hamburg – Investment company x+bricks has established the Aurinko joint venture together with the Hopp family office with the aim of constructing around 45 PV systems by the end of 2022 on the roofs of the grocery-anchored properties held by x+bricks, which specialises in the segment.
Wircon GmbH, a global renewable energy company owned by the Hopp family, will be responsible for construction and operational management of the facilities. Through the joint venture, x+bricks is aiming to significantly boost the sustainability of its real estate portfolio. Wircon is thus providing substantial support for the ESG initiatives of the project partners involved in the joint venture.
A CMS team headed by lead partner Dr Niklas Ganssauge advised Wircon GmbH on all legal aspects of implementing the extensive photovoltaic project. The CMS team’s advice included drafting and negotiating the project agreements with the joint venture partners.
x+bricks was established in 2018 and invests in supermarkets, discounters and local shopping centres throughout Germany. The company currently has a portfolio of around 200 properties worth some EUR 1.1 billion (gross asset value, GVA).
Wircon GmbH, a global renewable energy company, has focused on developing and building industrial-scale solar parks since it entered the market in 2013. The firm has completed projects delivering more than 700 MW output to date.
CMS Germany
Dr Niklas Ganssauge, Lead Partner, Hamburg
Madlene Wangrau, Senior Associate, Hamburg
Antonia vom Dahl, Associate, Hamburg, all Energy
Dr Hans Fabian Kiderlen, Counsel, Hamburg, Real Estate & Public
Dr Olaf Thießen, Principal Counsel, Hamburg, Tax
Wircon
Christian Bohn, General Counsel
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