Sunovis and Brookfield have entered into an agreement pursuant to which Brookfield Renewable will acquire a 100% equity interest in Sunovis.
Brookfield is a global alternative asset manager and one of the world's largest owner and operator of renewables with global reach and strong operating and development expertise. Sunovis has successfully developed more than 30 solar projects in Germany and other European countries and - with Brookfield's support - plans to significantly accelerate the realization of its current development pipeline, which comprises approximately 1.7 GWp of solar projects, of which about 600 MWp is in advanced and mid-stage development. Sunovis' existing management team consisting of Raphael Huber and Markus Renz will continue to manage business operations.
Raphael Huber and Markus Renz, CEO and CFO of Sunovis, comment:
"We are excited to join forces with Brookfield, a leading investor in renewables globally, who shares our strategic vision and is committed to support the further growth of Sunovis. Through this collaboration we will be able to accelerate our ambitious growth plans together with our team of experienced specialists and the support of a strong shareholder with outstanding financing capabilities, operational expertise and a broad global network in the solar industry."
Lazard acted as financial advisor and Oppenhoff acted as legal advisor to Sunovis. Norton Rose Fulbright acted as legal advisor to Brookfield.
Brookfield is a global alternative asset manager and one of the world's largest owner and operator of renewables with global reach and strong operating and development expertise. Sunovis has successfully developed more than 30 solar projects in Germany and other European countries and - with Brookfield's support - plans to significantly accelerate the realization of its current development pipeline, which comprises approximately 1.7 GWp of solar projects, of which about 600 MWp is in advanced and mid-stage development. Sunovis' existing management team consisting of Raphael Huber and Markus Renz will continue to manage business operations.
Raphael Huber and Markus Renz, CEO and CFO of Sunovis, comment:
"We are excited to join forces with Brookfield, a leading investor in renewables globally, who shares our strategic vision and is committed to support the further growth of Sunovis. Through this collaboration we will be able to accelerate our ambitious growth plans together with our team of experienced specialists and the support of a strong shareholder with outstanding financing capabilities, operational expertise and a broad global network in the solar industry."
Lazard acted as financial advisor and Oppenhoff acted as legal advisor to Sunovis. Norton Rose Fulbright acted as legal advisor to Brookfield.
