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M&A Activity • Feb 12, 2015

News Details

Corporate | 12 February 2015 12:42

Capital Stage AG continues to expand dynamically by entering UK market

DGAP-News: Capital Stage AG / Key word(s): Miscellaneous/Miscellaneous

2015-02-12 / 12:42

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Hamburg, 12 February 2015 - Capital Stage, the SDAX-listed solar and wind
park operator from Hamburg, acquired the first solar park portfolio in the
United Kingdom. The portfolio comprises seven solar parks with a total
generation capacity of roughly 53.4 MWp. The total investment including the
debt capital portion amounts to approx. GBP 67.7 million (approx. EUR 90.0
million). The acquisition is subject to the usual conditions precedent.

By acquiring a solar park portfolio in the UK, Capital Stage has managed to
enter one of the most dynamic solar markets in Europe. "The acquisition
means that we have instantly positioned ourselves in one of the fastest
growing solar markets in Europe," Felix Goedhart, CEO of Capital Stage AG,
commented on the successful market entry. "Thanks to the stable political
environment as well as reliable and predictable conditions, the UK market
perfectly matches our investment criteria. The market entry in the UK
supports the regional diversification of our portfolio as well as
additional growth beyond our core markets of Germany, France and Italy,"
Goedhart added. The UK solar park portfolio increases the generation
capacity of Capital Stage to over 440 MWp.

The seven solar parks are located in the south-west of England and Wales.
The average solar radiation in this region is similar to that in southern
Germany. Five of the parks have already been connected to the power grid,
the two other parks are expected to follow in March 2015. The parks are
expected to make revenue contributions of approx. GBP 7.4 million (approx.
EUR 10.0 million) in their first year of full operation. Plant operators in
the UK usually benefit from the contractually guaranteed offtake of the
electricity by industrial customers under power purchase agreements as well
as from various government subsidies in the form of Renewable Obligation
and Levy Exemption Certificates. The solar parks acquired by Capital Stage
have signed long-term power purchase agreements with the TOTAL Group and
British Telecom. Technical operation of the parks will be outsourced to an
English service provider and will be managed and controlled by Capital
Stage Solar Service GmbH, while Capital Stage AG will take care of
commercial operation.

The investment in the UK solar park is part of the strategic partnership
agreed with Gothaer Versicherungen (Gothaer insurance Group) in November
2014. In the context of this partnership, Gothaer Versicherungen provides
Capital Stage with profit participation capital of EUR 150 million for
investments in European solar parks. "The acquisition of a French, an
Italian and a British solar park portfolio within a couple of weeks from
signing the strategic partnership agreement with Gothaer Versicherungen is
a very good start and makes us outmost optimistic that we will have
invested all funds by the end of the year," said Felix Goedhart about the
acquisition process.

About Capital Stage AG:
Since 2009, Capital Stage has acquired solar power plants and wind parks in
Germany, France and Italy with a capacity of more than 440 MWp, making it
Germany's largest operator of solar parks. Its solar and wind parks
generate attractive returns and continuous revenues, while offering a
moderate level of investment risk.

Capital Stage AG is listed in the regulated market (Prime Standard) of the
Frankfurt Stock Exchange and in the regulated market of the Hanseatic Stock
Exchange Hamburg (ISIN: DE0006095003 / WKN: 609500). The shares of Capital
Stage AG have been listed in the Deutsche Börse selective index SDAX since
March 2014.

For more information, visit www.capitalstage.com

Contact:

Capital Stage AG
Till Gießmann
Head of Investor & Public Relations
Tel.: + 49 (0)40 37 85 62-242
Fax: + 49 (0)40 37 85 62-129
E-Mail: till.giessmann@capitalstage.com

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Language: English
Company: Capital Stage AG
Große Elbstraße 45
22767 Hamburg
Germany
Phone: +49 4037 85 62 -0
Fax: +49 4037 85 62 -129
E-mail: info@capitalstage.com
Internet: www.capitalstage.com
ISIN: DE0006095003
WKN: 609500
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg;
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart

End of News DGAP News-Service

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