Greentech Advises


Greentech Advises SOWITEC on a Minority Participation by Vestas
April 11, 2019

Greentech Capital Advisors is pleased to announce the following transaction:
Exclusive financial advisor on the sale of a 25.1% equity stake plus an option for the remaining shares to

UndisclosedPending

CLIENT OVERVIEW

Headquartered in Sonnenbühl, Germany, SOWITEC group GmbH (“SOWITEC”) is one of the world’s largest renewable energy developers. Since its inception in 1993, SOWITEC has developed over 60 wind and solar projects internationally, for a combined capacity of more than 2,600 MW that are already in operation or under construction.

TRANSACTION OVERVIEW

  • SOWITEC covers all areas of solar and wind power project development: from planning and conception, energy and profitability calculations, through construction management, sales and financing to the technical and commercial management of wind and solar parks
  • SOWITEC, its sole shareholder Frank Hummel and Vestas Wind Systems A/S have entered into an agreement about the participation by Vestas in the amount of 25.1% of the share capital of SOWITEC. The agreement provides for a call-option under which Vestas is entitled to acquire the remaining 74.9% of the shares within the next three years and the usual minority rights for Vestas
  • Vestas gains access to an independent development entity that strengthens its co-development portfolio and builds its co-development capabilities in strategic markets in Latin America
  • With Vestas’ support, SOWITEC further strengthens its equity position and expands its scope of activities across the wind and solar development value chains

The transaction press release can be found here: Press Release

Greentech Capital Advisors acted as exclusive financial advisor to SOWITEC. The transaction further strengthens Greentech’s leading advisory position in the renewable energy infrastructure sector.

Frank Hummel, SOWITEC’s Chief Executive Officer, says “We are proud to have Vestas as a strategic partner that further strengthens our equity and helps us to go further in the value chain. Together with our strong track record in emerging markets and our vast experience in developing utility-scale renewable energy projects, this partnership will help SOWITEC grow faster and give us the chance to profit from Vestas’ worldwide experience and presence.”

For additional information about this transaction, please contact:

Damien Sauer
Partner
+41 44 578 3914
damien@greentechcapital.com

Enrico Zini
Vice President
+41 44 578 3943
enrico@greentechcapital.com

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