Aream Group has partnered with an Eiffel Investment fund to develop a pipeline of solar and battery projects in Germany.
The investment firm and Eiffel Transition Infrastructure have formed the Aream Solar Ventures joint venture, with Eiffel financing most of the venture’s future development costs and acquiring a 49% stake in Aream’s existing solar portfolio.
The joint venture plans to develop more than 500MWp of photovoltaic (PV) projects in Germany in the coming years. These include both traditional open space developments and agri-PV systems in Mecklenburg-Western Pomerania, Saxony-Anhalt, and Brandenburg.
The individual development phases are expected to take between 18 and 36 months.
Markus W Voigt, CEO of Aream Group, said: “For Aream, the joint venture is a building block in our German project development portfolio, which continues to grow both in photovoltaics and batteries.”
Laurent Coubret, investment director at Eiffel, said: “We are very excited to enter the booming German market with the Eiffel Transition Infrastructure fund with Aream which has proven that it can master the entire solar PV value chain. Together, we are combining all the strengths to make this JV a great success.”
Aream Solar Ventures is the sixth investment in Europe for the €200m Eiffel Transition Infrastructure.
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