DLA Piper has advised EMMVEE Solar Systems Private Ltd. (“EMMVEE”), an Indian producer of monocrystalline and polycrystalline photovoltaic modules, on the sale of Solarpark Bronkow Luckaitztal GmbH (“Solarpark Bronkow”) to the regional energy provider RheinEnergie AG. The solar park located near Berlin has an installed capacity of 11.4 MWp.

The project development division of EMMVEE developed Solarpark Bronkow independently and commissioned it in 2012. The power generated is remunerated in accordance with the Renewable Energy Sources Act (EEG) and permits a stable cash flow over a period of approximately 20 years.

EMMVEE is a manufacturer of monocrystalline and polycrystalline photovoltaic modules, which is headquartered in Bangalore in India. It has an annual production capacity of 130 MWp and employs 650 people. Additionally, EMMVEE operates in the fields of solar thermal water heating and solar glass. To date, the EMMVEE project development division has mainly been involved in developing solar projects in Germany, India and Italy.

RheinEnergie AG is one of the major German regional supply companies, which is based in Cologne, has an annual turnover of some EUR 2.4 billion and employs approximately 3,100 people. RheinEnergie supplies electricity, gas, water, steam and heat to 2.5 million people as well as to industry, trade and commerce. In addition to conventional gas and coal-fired power stations, RheinEnergie also operates plants powered by wind, photovoltaics and bioenergy.

The DLA Piper team was led by partner Dr Silke Gantzckow (Corporate, Frankfurt).