Capital Stage AG acquires another solar park in the UK
Hamburg, 1 June 2017 – Hamburg-based SDAX-listed solar and wind park operator Capital Stage has acquired another British solar park. The park has a total generation capacity of 4.5 megawatts (MW), is fully operational and since March 2017 connected to the British power grid. Including the debt portion, the total investment volume amounts to about EUR 5.4 million (GBP 4.7 million). Through the acquisition, the generation capacity of all British solar parks of Capital Stage increases to more than 90 MW and the total generation capacity of Capital Stage Group to almost 1.3 gigawatts (GW).
The solar park is located in North West England in the county of Lancashire, in the vicinity of the city of Blackpool. The seller is SPI China (HK) Limited (SPI), a subsidiary of Nasdaq-listed project developer SPI Energy Co., Ltd. The produced power will be marketed in the long term via power purchase agreements (PPA). In addition, the park meets the regulatory criteria for the Renewable Obligation Certificates (ROCs) with a 1.2 multiplier. Capital Stage expects the park to contribute revenues of EUR 470,000 (GBP 410,000) per annum starting from its first full year of operation.
During the first two years, the solar park will be technically managed by Solea AG from Plattling, Bavaria, the general contractor in charge of the project. After this initial period, technical management responsibility will be transferred to Capital Stage Solar Service GmbH, a wholly owned subsidiary of Capital Stage AG. Capital Stage will be in charge of commercial management as soon as it takes over economic ownership of the park.
At first, the acquisition of the solar park has been fully financed by equity. A later refinancing in the form of a usual financing on a project basis is planned.
With the acquisition, the generation capacity of all British solar parks of Capital Stage increases to more than 90 MW, equivalent to roughly 8 per cent of the company’s total generation capacity.
About Capital Stage AG:
Capital Stage invests and operates solar and wind parks in Germany, Denmark, France, Finland, the United Kingdom, Italy, Austria and Sweden. Including solar and wind parks acquired and operated as part of the asset management business for third parties, the company’s generation capacity totals almost 1.3 gigawatts. This makes Capital Stage one of Europe’s leading independent solar and wind park operators. With its solar and wind parks, the company generates attractive yields as well as continuous and predictable income.
The Capital Stage AG share is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange and on the regulated market of the Hamburg stock exchange (ISIN: DE0006095003 / WKN: 609500). Since 2014, the Capital Stage AG share has been included in the SDAX index of Deutsche Börse.
You can find further information on the company at www.capitalstage.com.
Contact:
Capital Stage AG
Till Gießmann
Head of Investor and Public Relations
Tel.: +49 (0)40 378 562 242
Fax: +49 (0)40 378 562 129
Email: till.giessmann@capitalstage.com
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