HEUKING advises AQ Ampere on transaction of a ground-mounted photovoltaic project
A HEUKING team led by Christoph Prochnau, Partner at the firm’s Hamburg office, legally advised photovoltaic developer AQ Ampere on agreeing a collaboration with Hamburger Energiewerke and an associated transaction of a ground-mounted PV project. The deal sets the stage for the two businesses’ long-term cooperation.
Hamburger Energiewerke continues to expand its portfolio of renewable electricity generation. The municipal energy supplier acquired a ground-mounted photovoltaic project in Northeim in southern Lower Saxony from AQ Ampere, which is also headquartered in Hamburg. AQ Ampere will continue to support the initiative.
The parties have agreed not to disclose the purchase price.
The solar farm will be built along the A7 highway near Northeim and is scheduled to generate about twelve gigawatt hours of green electricity annually with a peak output of 11.2 megawatts. Thus, the PV farm will generate sufficient renewable electricity to supply some 3,400 households. Construction is expected to commence later this year.
Hamburger Energiewerke currently generates renewable electricity in its own wind farms and ground-mounted PV installations. The demand for green electricity will rise dramatically in future years as the heating industry is transforming, with the objective of eliminating coal by 2030 at the latest and transitioning to climate-neutral power generation.
AQ Ampere develops and operates PV systems and battery storage installations. The Hamburg-based company takes a holistic approach to development and funding, as well as ongoing project operations. By developing PV parks and large-scale battery storage systems, AQ Ampere provides landowners with the opportunity to significantly contribute to combating climate change while also creating financial security through attractive lease structures.
AQ Ampere is a subsidiary of Aquila group and closely collaborates with its parent company, which has been operating in the PV sector since 2009. Aquila group manages 243 PV parks and 26 battery storage installations, thus contributing to achieving the energy transition.
Counsel to Aquila Group / AQ Ampere
HEUKING:
Christoph Prochnau, LL.B. (Corporate / M&A, Lead), Hamburg,
Dr. Tobias Woltering (Energy), Düsseldorf,
Katharina Waszczynski (Corporate / M&A),
Jeannine Drossart (Real Estate),
Simon Pommer, LL.M. (Tax),
Vivien Tewes (Public Law), all Hamburg
