Market environment
The growing solar energy sector is contributing significantly to the shift towards more renewable energy in Europe. The European Union solar market is on a growth path, while several factors will keep this development going for many years to come. By 2030, the European Union (EU) has committed to installing 209 GW of additional solar PV capacity under member states' National Energy and Climate Plans (NECPs). On a global scale, initiatives such as the Paris Climate Agreement, among others, positively influence the solar market. Solar Energy is expected to comprise one-third of the global energy mix by 2050. Due to uncertainties in oil and natural gas supplies, there is also a growing view that solar energy will replace traditional energy sources as one of the primary sources.
Company
CCE Group GmbH was founded in 2010 in Austria and focuses on the development, realization, financing, and management of large-scale ground-mounted PV systems as well as private and commercial rooftop installations. With its solution-oriented approach, reflecting many years of experience along the entire value chain, the company aims to make an important contribution to the global energy transition. In addition to its headquarters in Garsten (Austria), CCE Group has subsidiaries in Germany, Italy, France, Romania, the Netherlands, and Chile. Worldwide, CCE Group has a pipeline of solar projects with a total capacity of almost 3 GW. The focus on flexibility, which the management has established internally, enables CCE Group to always remain successful in the changing market conditions. In cooperation with the company enernovum, the future activities will be consolidated in the CCE Holding, to drive the realization of the solar projects with a total of about 140 employees.
Investment strategy
The proceeds of the bond will be used to refinance the CCE Group bond maturing on 20 June 2022 and to repay other internal financing. The bond will be repaid from the proceeds of the sale of the project portfolio, of which purchase agreements for 600 MW in Italy alone are about to be signed with three investors. The remaining portfolio and the entire operating business are to be sold to CCE Holding, a joint venture with Ärzteversorgung Thüringen.
