Deloitte Legal advises CCE Group on the placement of a EUR 25 million Promissory Note Loan
A Deloitte Legal team led by partners Dr. Albrecht Kindler (Düsseldorf) and Dr. Peter Maser (Stuttgart) advised CCE Group GmbH, an Austrian developer of photovoltaic systems, on the placement of a promissory note loan of 25 million euros. 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 - around 400 kilometres 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, designs, realizes, finances and manages global alternative investments in the field of photovoltaics. The group employs more than 100 people in six nations. The Group's portfolio includes solar projects with a capacity of over 2 gigawatts at various stages of development and implementation worldwide, making it one of the leading photovoltaic developers in Europe.
An Austrian-German team of tax and legal experts advised the CCE Group comprehensively in all phases of the transaction up to its successful completion. The financing process including the rating was supported by Deloitte Corporate Finance around Managing Director Christoph Westphal.
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