Acquisition of 39MW RTB Solar Project in Essex, UK

Brussels, Belgium – 13 May 2024 – Aukera BV (“Aukera”), the pan-European renewable energy developer and independent power producer, today announced that it has acquired a ready-to-build solar project from developer BOOM Power (“BOOM”). The Crays Hall project in Essex, UK, has a capacity of 39 MWp and is expected to reach financial close in the second half of this year. It will take approximately one year to build and is expected to start exporting power to the grid in late 2025.

The acquisition marks the latest step in Aukera’s strategy to accelerate its growth in its core markets via selective acquisitions of late-stage development and ready-to-build projects. Aukera’s team has now grown to 80 people including leading experts in construction, procurement, engineering, grid and offtake structures. This internal expertise allows Aukera to assess and evaluate new opportunities efficiently and focus on those that are most attractive.

Catalin Breaban (Co-Founder) and Simon Robinson (Head of Investments) at Aukera said, “Aukera is well capitalised following its successful equity raise last year and recently announced construction finance facility provided by EIG. We are now deploying this capital to accelerate the growth of the business in our core markets and deliver our vision. We highly respect the team at BOOM and have enjoyed working with them on this transaction, and we believe that our companies share a very similar culture and outlook. We are very much looking forward to working with BOOM on future opportunities.”

Mark Hogan (Founder) of BOOM said, “We are pleased to have aligned with Aukera for the acquisition of Crays Hall. It is a superb scheme which will aid the Council in their aims to deliver locally produced renewable energy from a baseline of 5% – to 90% by 2050. The transaction underpins our joint ethos to deliver real, crucial benefits to build climate resilience. We aim to be a long-term partner of Aukera through the construction management of Crays Hall and look forward to working with them thereafter.”

Jan Krüger (Managing Director) of Pelion Green Future (BOOM Power’s joint venture shareholder and partner) said, “The transaction of Crays Hall is a great testament to BOOM and Aukera. Their clear core values align and the acquisition has therefore been entirely purpose-driven. This is another great example of the UK’s dedication to a sustainable future.”

About Aukera
Aukera was founded in 2021 by experienced renewable energy executives Pascal Emsens and Catalin Breaban and focuses on the development, construction and operation of solar, wind and battery storage projects. It is currently developing a pipeline of 11.5 GW and expects to have over 1.5 GW in construction or operation by 2026. Aukera is headquartered in Brussels and has offices in London, Edinburgh, Berlin, Rome and Bucharest. Further information can be found on Aukera’s website www.aukera.energy

About BOOM Power
BOOM Power is a leading renewable energy company that combines world class technology with industry leading expertise to deliver international renewable infrastructure projects. Their ambition is underpinned by the formation of long-standing partnerships with one primary objective – to work in balance with nature to harvest energy sustainably, shaping the world for future generations. Further information can be
found on BOOM’s website www.boom-power.co.uk.