Overview
Frankfurt, May 14, 2024 – McDermott Will & Emery’s German energy and infrastructure team has advised Aream Group on the formation of a joint venture with Eiffel Investment Group represented by the Eiffel Transition Infrastructure Fund.
The new joint venture named Aream Solar Ventures will develop solar PV and battery storage (BESS) projects with an envisaged capacity of more than 500 MWp in Germany over the course of the coming years. Eiffel has acquired 49% of the Aream portfolio and will finance the majority of the future development costs, whereas Aream will provide the operational management of the joint venture.
Aream Group, founded in 2005, is an investment and asset manager for institutional investors and industrial clients with a focus on sustainable infrastructure in the renewable energy sector. With a transaction volume of more than €2.5 billion, Aream is one of the leading asset managers in this market.
The Eiffel Investment Group manages assets of six billion euros and finances infrastructure for the energy transition via private debt and private equity. Its clients include institutional investors such as insurance companies, investment funds, pension funds, banks, large family offices and public investors. Eiffel Transition Infrastructure is an infrastructure fund managed by Eiffel with capital of €200 million. Aream Solar Ventures is the fund’s sixth investment in Europe.
The McDermott team was led by partner Maximilian Uibeleisen and comprised partner Benedikt von Schorlemer, counsel Holger Mlynek and Simon Groneberg as well as associates Jan Ischreyt and Constanze Götz.
