German, French Investment Groups Form JV for 500MW Projects in Germany

The German renewables investor and asset manager Aream Group and Eiffel Investment Group, represented by the Eiffel Transition Infrastructure Fund have formed a joint venture with an aim to develop clean energy projects in Germany. The joint venture will develop numerous projects in the fields of photovoltaics and batteries in the coming years. Eiffel will assume the majority of the development costs and has acquired 49 percent of the Aream portfolio.

“We are looking forward to working with Eiffel, who is an experienced financing partner in project development in the field of renewable energies,” comments Markus W Voigt, CEO of the Aream Group.

The operational management of the joint venture is provided by the Aream Group, which understands and masters the project development business well and at the same time thinks from the financial perspective. The financing partner is Eiffel Transition Infrastructure, an investment fund managed by Eiffel with a capital of 200 million euros. Aream Solar Ventures is the fund’s sixth investment in Europe.

The joint venture plans to develop photovoltaic projects in the order of more than 500 MWp in Germany in the coming years. These are both classic ground-mount development and agri-PV plants in Mecklenburg-Western Pomerania, Saxony-Anhalt, and Brandenburg. The individual development phases are to take between 18 and 36 months.

“We are delighted to be moving into the booming German market with the Eiffel Transition Infrastructure Fund and having found a partner with Aream that has proven that it dominates the entire photovoltaic value chain. Together, we are joining forces to make the joint venture a great success,” says Laurent Coubret, Investment Director at Eiffel. “For Aream, the joint venture is a building block in our German project development portfolio, which is constantly growing for photovoltaics and batteries,” says Voigt.