CCE Group issues 25 million euro promissory note loan
Düsseldorf — A Deloitte Legal team led by partners Dr. Albrecht Kindler, Foto (Düsseldorf) and Dr. Peter Maser (Stuttgart) advised CCE Group GmbH, an Austrian developer of photovoltaic plants, on the issuance of a promissory note loan in the amount of EUR 25 million. The promissory note loan was fully subscribed by a German pension fund.
The promissory note loan will be used to finance a photovoltaic project with a nominal output of 87 MW in the Atacama Desert in Chile. After a construction phase of around 12 months, the photovoltaic power plant, which occupies an area of 145 hectares, will be connected to the Chilean power grid at the end of the year. Located in the Coquimbo region — some 400 kilometers north of Santiago de Chile — the photovoltaic system is expected to produce around 220 gigawatt hours of electricity per year from 2021.
The CCE Group, based in Garsten/Austria, realizes, finances and manages global alternative investments in the field of photovoltaics. The group employs more than 100 people in six nations. Worldwide, the Group has solar projects with over 2 gigawatts of capacity in various stages of development and realization in its portfolio, making it one of the leading photovoltaic developers in Europe.
Advisor CCE Group: Deloitte Legal
Dr. Albrecht Kindler (Corporate/M&A, Lead), Dr. Peter Maser (Commercial, Co-Lead), Dr. Juliane Werther-Bontje LL.M. (Corporate/M&A), Dr. Marcell Baumann (Corporate/M&A) Deloitte Corporate Finance: Christoph Westphal.
An Austrian-German team of tax and legal experts provided comprehensive advice to the CCE Group in all phases of the transaction, up to the successful closing. The financing process including the rating was supported by Deloitte Corporate Finance around Managing Director Christoph Westphal.
About Deloitte and Deloitte Legal
Deloitte provides auditing, risk advisory, tax advisory, financial advisory and consulting services to companies and institutions from all sectors of the economy; Legal advice is provided in Germany by Deloitte Legal. With a global network of member companies in more than 150 countries, Deloitte combines excellence with world-class performance and helps clients solve their complex business challenges. Making an impact that matters – for around 312,000 Deloitte employees, this is a common mission statement and individual ambition at the same time. Deloitte Legal refers to the legal advice practices of the member companies of Deloitte Touche Tohmatsu Limited, its affiliates or affiliates that provide legal services. Deloitte refers to Deloitte Touche Tohmatsu Limited (“DTTL”), a “private limited company limited by guarantee” (limited liability company under UK law), its network of member companies and its affiliates. DTTL and each of its member companies are legally independent and independent. DTTL (also called “Deloitte Global”) does not provide services to clients. www.deloitte.com/de/UeberUns.