Sale of a combined heat and power geothermal plant in Germany

Augusta & Co is delighted to have acted as exclusive financial adviser to Gruenwald Equity and related shareholders in the divestment of Gruenwald Equity Geothermie GmbH to a fund managed by Equitix, a leading long-term fund manager of core infrastructure assets. The transaction represents Equitix’s first investment in the German geothermal sector.

Gruenwald Equity Geothermie GmbH owns Geothermische Kraftwerksgesellschaft Traunreut mbH, an operator of a combined heat and power geothermal plant based in Bavaria, Germany. The plant has been in operation since 2014 and has 42 years of operating life remaining, providing long term heat supply via a connected districting heating network to the town of Traunreut as well as generating electricity remunerated under the German Erneuerbare-Energien-Gesetz (“EEG”).

Dr. Raimund Koenig, Managing Partner of Gruenwald Equity, said “Augusta has worked tirelessly to deliver a very strong result for our shareholders and the project, and in Equitix has found a shareholder who will aim to continue the successful cooperation with the town of Traunreut.”

Harry Gibson, Managing Director at Augusta & Co, commented “We were delighted to advise the team at Gruenwald Equity on the divestment of the Traunreut plant to Equitix, Augusta & Co’s first geothermal transaction. The outcome was the result of a highly competitive sale process which demonstrated wide interest from investors for an asset producing renewable, baseload heat and power.”

Contact:
Harry Gibson HGibson@augustaco.com