Press Release 01/05/2024

Novar Strengthens Its Position in the European Market with the Acquisition of a Major Solar Energy Project in Germany

Novar proudly announces the strategic acquisition of a large-scale solar park located in Lower Saxony, Germany. This project, with an anticipated capacity ranging from 91 MWp to 156 MWp, represents a significant step in Novar's expansion into the German market. It is expected that the project is ready to build by the second quarter of 2026. The acquisition was made possible through collaboration with WiNRG, a renewable energy developer based in Hamburg, and was supported by the merger and acquisition advising services of Capcora.

"This acquisition marks a major milestone in our international growth and underscores our commitment to advancing sustainable energy infrastructure in Europe. Germany offers significant opportunities for the development of renewable energy, enabling us to leverage our extensive knowledge and experience," said Gerben Smit, CEO of Novar.

David Majert, Managing Director at WiNRG, shared his enthusiasm about the transaction: “We are thrilled to announce the successful sale of a significant project from our pipeline. Our rapid growth in the competitive German PV market, coupled with our experience from other key European markets, has enabled us to establish partnerships and develop a pipeline of medium and large-scale ground-mounted PV plants.” His colleague, Norman Nikschtat, added, "Partnering with Novar has proven to be a valuable collaboration, and we look forward to further expanding our cooperation."

Novar distinguishes itself in the market by offering complete systems that combine power generation, energy storage, and flexible energy delivery. The company identifies significant opportunities in new markets and brings its proven experience with integrated green energy systems from the Netherlands. This expertise gives Novar a strategic advantage in implementing large-scale projects.

The transaction was facilitated by Capcora, a Frankfurt-based financial advisory boutique, and was structured through a share purchase agreement with associated development service arrangements. "This transaction adds substantial value to both parties and highlights the continued growth opportunities in the booming German PV market," added Henning Prigge, Director at Capcora.

Legally, WiNRG was advised by Brahms Nebel & Kollegen, and Novar was advised by Eversheds Sutherland in the transaction. K&S Ingenieurpartnerschaft Krug & Schram acted as a technical advisor to Novar, while PwC acted as a tax advisor. Osborne Clarke was supporting WiNRG as a tax advisor, while Capcora acted as an M&A advisor

About WiNRG

WiNRG GmbH, based in Hamburg, specializes in renewable energy projects globally with a strong focus on project development of ground-mounted PV plants in Germany. Their services encompass in addition to the own project development, the evaluation and coordination of acquisitions and construction supervision for wind and solar plants. Additionally, they offer long-term O&M services. Established in 2005, the experienced team at WiNRG facilitates profitable investments for family offices and institutional investors worldwide.

About Capcora

Capcora is an independent financial advisory boutique specializing in M&A and project finance services to accelerate the energy transition in Europe. Founded in 2015, the Frankfurt-based company helps its clients succeed in the renewable energy and infrastructure sectors by advising them on sell-side and buy-side transactions, and by raising mezzanine, unitranche or senior debt.

About us

Novar is enhancing the world with sustainable energy. We are actively involved in deploying battery technology, hydrogen production, heat storage, private distribution networks, and smart grids. Currently, we manage over 600 projects, ranging from solar parks and roofs to complete green energy systems, with the ultimate goal of generating 4 Gigawatts of renewable energy by 2030, equivalent to the energy consumption of one million households. 

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