- In 2016 Finadvice advised Innowatio SpA throughout the 100% acquisition of Clean Energy Sourcing AG (“CLENS”) in Leipzig and Frankfurt.
- CLENS was founded in 1999 as a Q-Cells subsidiary and went through a management-buy-in and a take-over by two financial investors beforehand (Finadvice had been involved in both transactions as a financial adviser).
- In 2015 CLENS had posted a turnover in excess of € 500 million through the sale of approx. 7 GWh of power to industrial and commercial clients and the management of an approx. 4-GW Virtual Power Plant consisting mostly of onshore wind, biogas/biomass and cogeneration plants. CLENS employed a staff of seventy at the time of the acquisition by Innowatio.
- With the purchase of the company, Innowatio took over:
- an established presence in the key segments of the German electricity market (wholesale and renewables) whose design is now spreading across the EU
- an ideal platform to market Innowatio’s ESCO services in Germany
- a robust infrastructure to run «intelligent» Virtual power plants capable of suppling balancing services to the grid operators
Finadvice acted as financial advisor (Origination, Project Management, support in the negotiations) to Innowatio SpA