Capital Stage continues successful cooperation with German project developer in the UK
Capital Stage, the SDAX-listed solar and wind park operator based in Hamburg, Germany, has acquired another UK solar park with a generation capacity of 5 MWp from the German project developer F&S solar concept (F&S) based in Euskirchen. With the new acquisition the two companies continue their successful cooperation from mid 2015 also in 2016 as planned. The latest acquisition increases Capital Stage’s existing UK solar park portfolio to almost 80 MWp.
The solar park acquired by Capital Stage is located in central England near Horton, County North Hamptonshire. The park has been connected to the UK power grid since December 2015 and has signed a long-term power purchase agreement (PPA) with Neas Energy, Denmark, an internationally operating energy trading company. The total investment in the park amounts to roughly EUR 6 million. Capital Stage expects the park to generate sales revenues of approx. TGBP 500 (approx. TEUR 650) as of the first year of full operation.
F&S will provide the technical management for the parks for a period of two years. After that period, technical management will be handed over to Capital Stage Solar Service GmbH, a wholly-owned subsidiary of Capital Stage AG. Capital Stage will assume responsibility for commercial management immediately after the transfer of ownership.
The solar park will initially be fully financed from the company’s own funds; refinancing in the form of a classic project loan is planned for a later date. The respective framework agreement has already been signed with the German BayernLB.