CCE Group issues 25 million euro promissory note loan

5. June 2020

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

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