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Good Energies and NIBC Infrastructure Partners have signed an agreement with Q-Cells SE for the acquisition of Finsterwalde II and Finsterwalde III, the solar photovoltaics plants located in Brandenburg, Germany. Together with Q-Cells' Finsterwalde I, which stands adjacent, the three Finsterwalde projects have a capacity of 81MWp, forming the largest operational solar PV plant in the world.
All three plants, developed and constructed by Q-Cells, are now fully operational. Q-Cells will continue to carry out the operations and maintenance of the PV plants under a long term contract.
Joost Becker, director of Good Energies said, "Good Energies continues to focus on different parts of the renewable energy value chain, including early stage technologies, mature businesses, and project development and operation. In the last couple of weeks we have announced several new investments in the sector and the Finsterwalde projects perfectly fit the project development and operation part of the business. We are very excited about this investment as part of the further build out of our portfolio."
Darren Kyte CEO of NIBC Infrastructure Partners said, "The Finsterwalde solar PV projects build on NIBC's experience in the renewable energy infrastructure sector. This will be our fourth acquisition of an operational renewable energy infrastructure asset during the last 12 months. The acquisition will increase our solar PV portfolio to 86MWp in Europe, and our total renewables exposure to almost 250MW across operational wind, solar and waste-to-energy assets. We look forward to our continued partnership with Q-Cells and Good Energies."
The parties have agreed not to disclose the final purchase price. The transaction is subject to a number of closing conditions, and the Financial Close is expected around the end of 2010.