• Rautenberg mandated to run sale process, KWR on legal
• 6 MW powered land, scalable to 25 MW
• Colocation operators and neoclouds among potential buyers

Teasers have been distributed to potentially interested parties for the sale of family-owned greenfield solar developer NewDev Management’s 6 MW powered land site near Hamburg.

Rautenberg has been mandated to approach potential buyers, while KWR Kanzlei für Wirtschaftsrecht will provide legal representation for the company during the sale process.

The site, which is scalable to 25 MW, is located within a zoning area designated for commercial development and, while considered particularly well suited to data centre use, is not restricted to this purpose.

“It would be absolutely possible to use the site for ancillary infrastructure for a data centre, like battery storage and heat distribution facilities,” said NewDev’s managing partner Dr. Mark-Oliver Otto.

NewDev is aiming for a full sale of the shares in the SPV but would be open to alternatives should a potential buyer ask NewDev to stay onboard as a minority shareholder.

Valuation expectations have not yet been revealed.

“The potential bidders are colocation operators and neoclouds,” Otto said. “We are not explicitly aiming for developers at this stage although developers are not excluded.”

NewDev is not planning on releasing information memoranda and will instead share an electronic data-room to bidders directly for review and confirmation.

The company is targeting one buyer to acquire the full project, with no intention of splitting the site, although this is technically possible due to there being two independent land plots.