ASSET SALE: NBOs lodged for Cero Generation; financial and strategic Buyers involved in process

Macquarie Asset Management has taken non-binding offers for European solar development platform Cero Generation, according to market sources.

The investor launched the disposal of the company in late June, and is understood to have taken indicative offers this week.

Cero Generation is developing a circa 25 GW portfolio across eight European markets, with around 8 GW in the UK, 5 GW in Greece, 3.5 GW in Poland, 3 GW in France, 2.5 GW in Spain, 2 GW in Italy, 300 MW in Germany and around 60 MW in the Netherlands, while it has to date brought around 350 MW into operation.

The company has been given a potential price tag of over EUR 1bn.

Entities mooted to have submitted or considered first round offers include Antin Infrastructure Partners, Equinor, EQT, KKR, PGGM and Wren House, among others, sources said. A second round of the process is forecast to run into the autumn.

Macquarie is being advised on the process by Goldman Sachs (financial).

Macquarie declined to comment.

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