CCE Holding acquires solar projects in Chile, Italy

CCE Holding GmbH has acquired two solar projects in Chile and Italy with financing from German private bank Joh. Berenberg Gossler & Co. KG.

The transaction includes the operational 87-MWp La Huella solar park in the Atacama Desert in Chile and the ready-to-build, 41-MWp Montalto di Castro solar park in the Lazio region of Italy, Berenberg said Feb. 4. Construction of the Montalto di Castro facility is slated to start in the first quarter and is expected to be completed by mid-2023.

Berenberg Green Energy Junior Debt Funds II and III, together with CCE Holding and its investor Ärzteversorgung Thüringen, financed the acquisitions. Berenberg said it acts as the fund's investment adviser. Ärzteversorgung Thüringen also fully funded the construction phase of La Huella.

La Huella is the first project in South America for Berenberg's debt funds. Torsten Heidemann, head of infrastructure and energy for Berenberg, said the Chilean market is of interest due to its "attractive" power purchase agreement structures.

In Italy, Heidemann said, "the market for photovoltaic projects such as Montalto di Castro is developing very well after the expiry of the feed-in tariff and represents an attractive target market for us."

CCE Holding was formed from a joint venture of Clean Capital Energy GmbH, Enernovum Gmbh & Co. Kg and Ärzteversorgung Thüringen.