Paris, March 2, 2023 – EDF Renewables, a key player in renewable energies, announces the acquisition of 17 photovoltaic projects in Germany for a total capacity of 529 MWp, from MEC Energy, a German developer belonging to the MEC group, based in Düsseldorf. These projects under development in the north and north-east of Germany will contribute to the EDF group's CAP 2030 strategy, which aims to more than double its net renewable energy capacity, from 28 GW to 60 GW between 2015 and 2030.
EDF Renewables was selected following a competitive process launched by MEC Energy in 2022. The transaction consists of a conditional sale and purchase agreement, as well as a development contract for the 17 ground-mounted photovoltaic projects representing a total installed capacity of 529 MWp. The pipeline consists of projects with a unit capacity of up to 99 MWp located in Lower Saxony, Saxony-Anhalt, Mecklenburg-Western Pomerania and Brandenburg, with planned commissioning dates between 2024 and 2025.
These solar projects, EDF Renewables' first in Germany, are in addition to the approximately 180 MW of onshore wind power that the company already operates in the country. EDF Renewables thus contributes to the objective set by the German government of reaching 80% of renewable electricity by 2030.
At the same time, the MEC Energy team benefits through this cooperation from EDF Renewables' experience in project execution, its financial capacity and its international network. The MEC Group combines extensive experience in the field of renewable energy with experience in the IT and telecommunications sector, all brought together under the MEC Energy brand. Thanks to its expertise, MEC Energy has developed a highly digitized, innovative and scalable site acquisition process.
Johnathan Fraser, CEO of EDF Renewables in Germany, said : " This transaction is a perfect match between two companies with complementary skills and experience in the field of solar energy. It demonstrates EDF Renewables' commitment to expanding its commitment in Germany by supporting the local energy transition with 529 MWp of new photovoltaic projects by 2025. »
Alexander Dierkes, CEO of MEC Energy, added : " We are proud to partner with EDF Renewables, a leading global player in the field of renewable energies. The acquisition of our 17 photovoltaic projects is an important milestone for us and we look forward to continued growth in the renewable energy sector. »
Capcora, a German consulting company, acted as the exclusive sell-side M&A advisor to MEC Energy.