UBS Clean Energy Infrastructure Switzerland KGK acquires 49% of the shares in Birseck Solar AG, the Swiss solar subsidiary of KKB AG
Birseck Solar AG owns and operates 42 photovoltaic roof plants in Switzerland with a total capacity of 12 megawatts, which makes it one of the leaders in this area. Birseck Solar AG is a fully owned subsidiary of KKB AG (Kleinkraftwerk Birseck AG), which aims for a solar capacity of 65 megawatts in France, Italy and Switzerland in its portfolio by 2020.
KKB AG and UBS Clean Energy Infrastructure Switzerland have reached an agreement on the sale of 49% of the shares of Birseck Solar AG. The parties involved have agreed not to disclose the acquisition price.
Antoine Millioud, CEO of KKB AG, commented: “We are pleased to have won UBS Clean Energy Infrastructure Switzerland as a joint shareholder and partner for the continued development of Birseck Solar AG in the photovoltaic area in Switzerland. The parties complement each other in an ideal manner.”
Didier Ph. Jeanrenaud, Head of UBS Clean Energy Infrastructure Switzerland Ltd, said: “This investment rounds out our existing infrastructure portfolio, which now comprises six companies that we have built up and will continue to develop in the coming years in the power, heating and mobility market on behalf of our institutional clients (Swiss pension funds and insurance providers).”
Beat Huber, CIO of Fontavis AG – the investment advisor of UBS Clean Energy Infrastructure Switzerland – adds: “The transaction fits with our strategy of investing in operational plants as well as setting up new plants in a targeted manner. With Birseck Solar AG and Swiss Solar Invest AG, we now have a portfolio containing a total of 65 photovoltaic plants in Switzerland.”