Clearvise has terminated a memorandum of understanding (MoU) with Tion (formerly Pacifico Renewables Yield), following the sale of a majority stake in the renewables developer to another company.
The core of the MoU was the possible full acquisition of Tion’s wind and solar portfolio.
This was preceded by an unexpected ad-hoc announcement by Tion in the late evening of 24 March 2023 regarding the acquisition of a majority stake in Tion by EQT Active Core Infrastructure.
In this context, Tion had also announced that the measures described in the MoU between Tion and Clearvise will not be implemented as originally intended.
Petra Leue-Bahns, CEO of clearvise AG, said the company’s ClearSCALE 2025 growth initiative continues to progress according to plan in 2023.
She said that while the acquisition of Tion’s 158MW solar and wind portfolio was an option, Clearvise has continued to expand its own pipeline in parallel.
She said: “Therefore, this turn of events at such a late stage is surprising, but does not set us back.
“In addition to our Site Optimisation Programme, our ClearPARTNERS model is an important building block of our growth strategy, which focuses on fair cooperation with smaller regional developers.”
The first sites are under negotiation.
“Given our active project pipeline of currently just under 450MW, we believe we are well placed to achieve our self-imposed expansion target of 1GW by 2025, including 750MW of operational generation capacity and 250MW of secured pipeline,” Leue-Bahns added.
Manuel Sieth, CFO of clearvise AG, said revenues from electricity sales with the existing portfolio due to the high electricity prices has given the company the “necessary financial leeway for the strategic expansion of the portfolio”.
This will be used, for example, to finance the construction of solar parks Heiligenfelde (11MW) and Wolfsgarten (38MW) in 2023.