8.2 Consulting AG advises Qair on its European expansion course

Following the announcement of Green City AG's insolvency application in Munich, the Qair Group, a European independent producer of renewable energy, took action to take over assets from the insolvency estate.

To evaluate the development projects from the photovoltaic and onshore wind energy sectors, Qair commissioned 8.2 Consulting AG at the end of March 2022 to prepare a Red Flag TDD — which resulted in Qair's takeover of the core business of the insolvent Green City AG.

As a network of technical experts, the 8.2 Group has been the point of contact for inspections and consulting services in the renewable energy sector for more than 25 years. During this time, the experts from 8.2 Consulting AG technically assessed transactions with a project volume of around 20 GW in the area of onshore and offshore wind energy. With this expertise, combined with technical expertise from over 65,000 inspections worldwide and rapid response time, Qair was able to successfully acquire the development projects. The planned portfolio to be purchased included renewable energy projects in Germany, France, Spain and Italy. 8.2 took over the assessment of 15 German wind farms, which are still almost without exception at various stages of development, and 8 German photovoltaic projects, the construction of which is planned in 2022 and 2023. As a result of the tight time frame from the outset, the project partners decided on an evaluation with a focus on the most important technical parameters, Criteria for the further course of the Transaction; legal or tax consulting services were not provided.

The cooperation was positive; after completing the “Red Flag” TDD, Qair decided to take over Green City AG and is thus successfully continuing its expansion course in the European renewable energy market. Jochen Nüssle, Chief Investment Officer at Qair, comments: “We would like to thank the 8.2 team for their constructive cooperation, which has significantly contributed to our participation in the sales process. We are pleased to have now also entered the largest European market for renewable energy. With the takeover of Green City's project development business, Qair has also succeeded in establishing itself as a true pan-European player.”

Dr. Frank Knappe, project manager at 8.2 Consulting AG, adds: “Congratulations to the Qair team on this success and welcome to the German market. We are proud to have supported you with our technical knowledge of onshore wind and PV and look forward to helping you complete the upcoming projects.”

Press contact 8.2 Consulting AG:

Philipp Stukenbrock, Head of Sales & Marketing

+49 40-38 07 253-32 • philipp.stukenbrock@8p2.de

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