Press releases

Capcora advises Goodyields on the sale of an operational 15 MWp solar park in Spain to FP Lux Investments.

Frankfurt am Main, 05.07.2023

FP Lux Group ("FP Lux") adds a photovoltaic project in Spain to the portfolio of its renewable energy fund RE Infrastructure Opportunities. The solar park with a capacity of around 15 MWp is located in the municipality of Aldeamayor de San Martin (Valladolid) in the Castilla y León region. The internationally active asset manager re:cap global investors ag, based in Zug (Switzerland), accompanied the transaction for FP Lux. The seller of the park is the Renewable Energy Infrastructure Fund II (REIF II) advised by Goodyields Capital Group ("Goodyields"). Frankfurt-based consulting firm Capcora acted as M&A advisor on the side of Goodyields in this transaction.

Commenting on the acquisition, Thomas Seibel, Managing Director of re:cap said, "We are pleased to make our second investment for the RE Instrastructure Opportunities Fund in Spain. After a large addition in the past years, there are now attractive investment opportunities in the secondary market. The acquired solar park in Spain is a good example of this. The project fits very well with our strategy of promoting renewable energy and creating sustainable investment opportunities for institutional investors."

The park in Valladolid already went online in December 2020 and has a short-term power purchase agreement (PPA) on attractive terms. In total, it will be able to supply 6,400 households with renewable energy, saving around 14,200 tons of CO2 per year. FP Lux is acquiring the project from Renewable Energy Infrastructure Fund II (REIF II), which built and operates the park and is advised by Goodyields CapitalChristian Auer, Partner and Head of Investments at Goodyields, says: "The sale of the solar park underlines our successful strategy to generate value through targeted market risk and optimization of the construction and initial operation phases."

Jochen Magerfleisch, Managing Partner of Frankfurt-based consultancy Capcora, which acted as M&A advisor on Goodyields' side in the project, added: "The transaction of the solar park in Spain was an exciting challenge for us as M&A advisors. We are proud to have been able to contribute to this successful closing and are pleased to continue our partnership with Goodyields, REIF II as well as re:cap and FP Lux."

With the acquisition of the solar farm, re:cap expands the RE Infrastructure Opportunities fund's existing portfolio to 16 projects in 30 locations in seven countries. In total, the plants reach a total capacity of over 400 MWp. The fund was designed specifically for institutional investors and successfully completed its final closing at the beginning of 2023 with a subscription volume of 290 million euros. With the FP Lux Energy Transition Fund, re:cap already has a successor fund in preparation. A first closing is planned for late summer 2023.

On the legal side, FP Lux was advised by CMS, while Goodyields was supported by Watson Farley & Williams in the transaction, with Capcora as M&A advisor.

About re:cap global investors ag:

re:cap global investors ag is an internationally active investment advisor for renewable energies. With a specialized team, it supports its clients in the evaluation and selection of suitable projects. Upon request, re:cap also acts as operator of the plants and regularly reviews them for process and revenue optimization. As a boutique, re:cap provides first-class, high-quality advice to institutional investors on their investments in renewable energy infrastructure projects. Thus, more than 1 gigawatts have already been recommended and acquired on behalf of clients out of more than 90,000 megawatts of audited projects. re:cap global investors ag is a member of the multi-boutique alliance FP Investment Partners, which offers institutional investors access to innovative asset managers in the areas of equities, alternatives and real assets.

About Goodyields:

Goodyields Capital is a Munich-based, independent and highly specialized firm focused exclusively on renewable energy infrastructure investments. The firm successfully advises the Renewable Energy Infrastructure fund family, which has a European renewable energy mandate and a mission of predictable and attractive returns for institutional investors. Through its subsidiary Sonnenfarmen GmbH, Goodyields develops, builds and operates sustainable ground-mounted PV systems (solar farms) with currently over 2.5 GWp. The Goodyields Group has more than 100 years of combined experience in the development, construction, structuring and financing of energy infrastructure, as well as in the operational management and optimization of renewable energy companies.

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.