Aream Group and Eiffel Investment Group have announced the establishment of a joint venture (JV) named Aream Solar Ventures. Spearheaded by the Eiffel Transition Infrastructure Fund, this collaboration aims to drive forward multiple projects in photovoltaics and batteries across Germany in the upcoming years.
The venture is poised to undertake photovoltaic initiatives exceeding 500MWp, spanning various regions including Mecklenburg-Western Pomerania, Saxony-Anhalt, and Brandenburg. These projects will encompass both conventional ground-mounted developments and innovative agri-PV systems. Anticipated development phases are slated to range from 18 to 36 months.
Markus W Voigt, CEO of Aream Group, expressed enthusiasm about the partnership, stating, “We are looking forward to working with Eiffel, who are an experienced financing partner in project development in the field of renewable energies.”
Eiffel has committed to covering the majority of the development expenses, having secured 49% ownership of the Aream portfolio. The operational reins of the JV will be in the hands of the Aream Group.
The financing endeavors will be supported by Eiffel Transition Infrastructure, a €200 million capital investment fund managed by Eiffel. This marks the fund's sixth venture in Europe.
Laurent Coubret, Investment Director at Eiffel, voiced satisfaction about the foray into the thriving German market, stating, “We are very pleased to enter the booming German market with the Eiffel Transition Infrastructure Fund and to have found a partner in Aream who has proven that it has mastered the entire value chain of photovoltaics. Together, we are joining forces to make the joint venture a great success.”
Voigt further emphasized the significance of the JV for Aream, highlighting its role in expanding the company's German project development portfolio in both photovoltaics and batteries.
