Blue Elephant

German’s Blue Elephant renewables firm preparing for IPO
Blue Elephant has 1.1. Gigawatts solar and wind parks all over Europe

Recently, Blue Elephant Energy AG signed a 500MW deal of solar portfolio. Now, the company is getting ready for IPO listing as the fundings have gone low compared to the demand.

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Their stock market floatation is expected to be around $1 .2 billion (1 billion euros). As the company is working with Bank Berenberg they are expecting to sell 150 Million euros as initial offerings.

Other options to get funding

So far, they haven’t specified the details of other options they are considering. However, Blue Elephant Energy has said that they are looking for various options for financial growth.

The 500MW solar portfolio is in alliance with German renewables developer and operator Umweltgerechte Kraftanlagen GmbH & Co KG (UKA). Additionally, UKA is a renewable developer who builds the projects till they are at ready to built stage.

This solar development will consist of 11 projects. They are located in four locations-  Sachsen, Sachsen-Anhalt, Brandenburg and Mecklenburg-Vorpommern. Each project will have different ranges from 20MW to 130MW.

As said by Blue Elephant’s Cheif investment officer, Tim Kallas,

“By securing this portfolio, BEE can significantly expand its German portfolio in a stable. And currently a very attractive market for PV electricity without bearing risks from project development.”

Here BEE is a Blue Elephant subsidiary company.

Backed by the Wacker family

Blue Elephant is backed by the Wacker family. Under Peter-Alexander Wacker’s leadership the chemical company Wacker Chemie turned public in 2005.

Furthermore, Wacker Chemie has been blended down for generations in the family since 1914. It sells its products in more than 100 countries all over the world.

Their linking with renewable energy came in 2015. As they developed polysilicon, which is used in solar cells. Eventually lead to manufacturing different photovoltaic cells, in their Tennesse factory.

Though there have been several cases of injuries in the same polysilicon manufacturing factories. Wacker Chemie is a capable investor for Blue Elephant Energy.

Besides, the company has other shareholders, the founder of Felix Goedhart, and Jahr Asset Management.

Greek Market

In the month of February, the company made its entry into the Greek market. It bought two solar parks in the Northeastern city of Xanthi. Another, in  Megala Kalyvia located in Trikala regional unit. These projects generate 80GW per year.

As said by ABO Wind’s general manager, “The projects have proven that we are capable of installing even technologically challenging solar parks in record time.”

Alongside, Blue Elephant Energy believes that the Greek market is promising. Also, adding value to diversify their portfolio. The company also acquired Italy and the Netherland’s solar this year, around the month of January.