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MEP Werke to collaborate with reputable Dutch-German bank NIBC to finance its solar power lease plan
Innovative financing structure assumes pioneering role on German solar leasing market(PresseBox) ( München, )
Konstantin Strasser, CEO of MEP Werke GmbH, says, “We are excited that NIBC Bank Deutschland AG has decided to place their confidence in us. Their decision strengthens our resolve to build on the progress we have made with our solar power lease plan and further the energy revolution. This innovative financing will enable us to continue to expand our successful concept and help the idea grow”.
MEP Werke has founded a special purpose vehicle (SPV), Deutsche Ökostrom Ltd., to finance its photovoltaic leasing systems. This loan will help Deutsche Ökostrom Ltd. in its purchasing activities in order to boost portfolio growth. The financing structure gives new institutional investors and capital market investors the opportunity to get involved at a later point of time in order to further advance MEP Werke’s growth. The MEP solar Lease plan comes with an extensive insurance package provided by Allianz AG. Agreements signed with back-up service companies also contribute to the stability of the financing structure.
Ulrich Bogner, Director Corporate Finance/M&A and responsible for structuring financing at MEP Werke GmbH, comments on the financing programme: “This financing structure is the first of its kind in Europe. It is a truly innovative financing programme for the MEP Group, which we have developed in collaboration with Rick Gambetta, Managing Director of Hexagon Finance and Advisory Ltd and NIBC using the best securitisation and structuring practices available. This financial scheme will make it possible for many more households in Germany to have access to our solar power system lease plan, making self-generated solar energy affordable”. Hexagon acted as the MEP Group’s financing advisor.
The transaction is the first structured financing solution targeted at leasing on the German market. As the first third-party financing for this successful business model, the project has proven to be great foundation for future solar power system lease agreements as well as for the German photovoltaic industry.
Visit www.mep-werke.de to find out more about MEP Werke GmbH and its products.
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