References
We commit our people, ideas
and efforts to our clients
A selection of completed transactions
Apricum has advised on a variety of successful fundraises, M&A deals and other transactions in the energy storage and solar industries. We bring our deep financial expertise, extensive high-level network, tailored and innovative approach, real-time insights and independent advice to bear on every transaction.
Apricum has enabled successful corporate transactions in the energy, storage, solar and wind industries – fundriases, M&A and joint ventures.
Below you will find a selection of recent corporate transactions:
Upside Energy Limited
Sale of majority
GBP not disclosed
Investor: Octopus Energy Group (UK)
2020
Meyer Burger
Rights offering and private placement
CHF 165M
Strategic advisor
2020
eternal sun
Sale of Majority
EUR not disclosed
Investor: ABN AMRO ETF
2019
Nomadd
Series B Fundraise
USD not disclosed
Investor: CEPCO (Saudi Arabia)
2018
Greencells
Strategic Investment
EUR not disclosed
Investor: Zahid Group (Saudi Arabia)
2018
Al-Babtain Power & Telecom and haizea wind group
Joint Venture
Wind tower manufacturing
2018
Al-Babtain Power & Telecom and Metalogalva
Joint Venture
PV mounting structure manufacturing
2017
Irolli and Risen
Joint Venture
PV module manufacturing
2017
Convergent Energy & Power
Strategic Investment
USD not disclosed
Investor: Statoil Energy Ventures
2016
German ASEAN Power
Sale of 50%
EUR not disclosed
Investor: Habdank (Germany)
2016
Sol Voltaics
Series C Fundraise
USD 17M (total)
Investor: Riyadh Valley Company (Saudi Arabia)
2016
Eos Energy Storage
Series C Fundraise
USD 23M (total)
Investor: OCI (Korea)
2015
Apricum has supported a variety of clients in relation to complex project transactions across the globe. Below you will find a selection of recent project transactions:
Voltalia
STEG Renewable Energy Tender
500 MW Tunisia
Financial Advisor to Bidder
2019
Greencells Group
Pekan LSS2 IPP
30 MWac Malaysia
Financial Advisor
2019 (ongoing)
Kawar Energy
Electrical Storage System Project
30 MW/60 MWh Jordan
Advisor
2018
(Undisclosed)
Ibri II Solar IPP
500 MWac Oman
Financial Advisor
2018
JGC, Trina Solar, Taqnia, AlJomaih
Sakaka Solar IPP
300 MWac Saudi Arabia
Financial Advisor
2017
Convergent Energy & Power
Energy Storage Project Finance
12 MW storage portfolio Canada
Commercial Advisor
2016
(Undisclosed)
Al Jouf and Rafha Solar SEC IPP
100 MWp Saudi Arabia
Commercial Advisor
2016
Jinko Solar
Sheikh Maktoum Solar Park DEWA IPP Phase 3
800 MWp UAE
Commercial Advisor
2016
Dallah Albaraka
Jordan Direct Proposal Solar IPP Program Round 2
50 MWp Jordan
Commercial Advisor
2016
Dallah Albaraka
Sheikh Maktoum Solar Park DEWA IPP Phase 2
100 MWp UAE
Commercial Advisor
2014
What our clients say about us
We work with a variety of different organizations across many markets: Holdings and multi-national companies, midsize companies, technology start-ups, investment firms, academic and research centers and government agencies. View our case studies section below to read an overview of recent projects we have completed with them.
“Apricum was a key support for us.”
“I’m really excited for Upside as we become part of Octopus Energy Group and take advantage of the opportunities this acquisition will bring. Apricum, with its industry knowledge, network and transaction experience was a key support for us.”
“In-depth stationary storage expertise… a pleasure to work with.”
“Apricum supported us in several strategy projects as well as with a comprehensive analysis of cost structures for our stationary battery storage business. Their in-depth stationary storage expertise in this sector is impressive as is their superior professionalism and reliability – simply a pleasure to work with”.
“Working with Apricum…helped to confirm our strategic direction”
“Apricum’s advisory service has proved highly effective in assisting the development of our corporate strategy. They have an excellent understanding of the renewable energy industry and did a great job of finding the right partners for Al-Babtain. Working with Apricum not only helped to confirm our strategic direction, but also enabled our team to build relationships with key members of the renewable energy industry.”
“…their execution expertise and high commitment from beginning to end were crucial”
“We thank Apricum for making this transaction happen. Their access to decision makers among investors worldwide, deep understanding of the solar industry, their execution expertise and high commitment from beginning to end were crucial to successfully closing the deal.”
“…exceptional network and access to top decision makers”
“Apricum supported us in a strategic partner search conducted in five countries on four continents. We were very impressed with their exceptional network and access to top decision makers in each target country. Apricum introduced us to highly targeted, high-level companies with the exact strategic fit we were looking for.”
“…profound expertise…visionary thinking”
“Apricum has done a great job shaping our electric vehicle strategy. The team has demonstrated profound expertise regarding the EV value chain and market dynamics. Moreover, they have been able to combine visionary thinking with recommendations for short-term execution.”
“Impressive industry depth”
“Overall extremely impressed by Apricum. As an ex-McKinsey person, I think Apricum brings every bit of the management consulting toolbox into the project, on top of an industry depth in the day-to-day team that is truly impressive and rare in the consulting world.”
“…world class team…impressive network of global decision makers”
“Apricum played a crucial role in the final close of our successful series C equity raise by bringing in a key strategic investor, which diversifies our investor base. Apricum’s team is world class and their network of global relationships to decision makers of major strategic companies is very impressive and made all the difference.”
“Encyclopedic knowledge of the solar value chain”
“Within a very brief amount of time, Apricum’s team was able to deliver to SABIC a comprehensive report on the solar value chain and to extract possible opportunities of interest to us. We were impressed by Apricum’s encyclopedic knowledge of the solar value chain, their deep understanding of the corresponding chemical industry and the sound strategic thinking. The team exhibited the highest level of professionalism and was a pleasure to work with.”
“Profound technical competence… identify trends early”
“Apricum’s technical competence in photovoltaics is excellent – very profound indeed. They identify trends at a very early stage, allowing the client to take the right choices and come up with correct approaches to participate in this highly dynamic market. Good to work with.”
“Highest level of competence… comprehensive sector knowledge”
“We deliberately chose Apricum as a boutique consulting firm on a recent due diligence project in the photovoltaic industry. The team demonstrated the highest level of competence down from the minute technical details of photovoltaic production processes up to an excellent understanding of the industry dynamics and the key strategic implications – a versatility that you find rarely among consultants. From day one, they brought their comprehensive sector knowledge to the table. Their reports were very focused without limitations on necessary detail. They served the objective of our engagement very well.”
“High degree of professionalism… left us in no doubt of their credentials as renewable energy experts”
“We are already active in the renewable energy sector and are considering extending our activities into solar and wind. Apricum identified key solar and wind markets for which they provided a thorough and insightful analysis including potential business opportunities for us. We were impressed with their detailed level of knowledge of the selected solar and wind markets, particularly in regard to current developments and the opportunities arising from them. They exhibited a high degree of professionalism and left us in no doubt of their credentials as renewable energy experts.”
Our clients include
Client case studies
Transaction advisory: Investor search
Greencells
About the client
Greencells is one of the largest European solution providers of solar photovoltaic (PV) power plants. Apricum led a comprehensive structured transaction process to support Greencells’ growth ambitions, resulting with the strategic investment from OMAS, a wholly-owned subsidiary of The Zahid Group in return for a 50% stake in Greencells. Continue reading
Transaction advisory: Joint venture
Al-Babtain Power & Telecom
About the client
Al-Babtain Power & Telecom (ABPT) is a Saudi-Arabia based holding with activities in a number of industrial sectors such as telecommunication, construction and energy. ABPT decided to enter the PV tracker business as a component manufacturer, with a view to gaining substantial traction in Saudi Arabia and the broader MENA region by supplying locally manufactured steel components. Continue reading
Transaction advisory: Bid support
DEWA Phase III 800 MW
About the project
Apricum advised its client, a consortium consisting of a European utility and Chinese solar IPP, in the bid preparation for DEWA’s 800 MW Phase III solar PV IPP tender.
Transaction advisory: Investor search
Eos Energy Storage
About the client
Eos is an American energy storage company with a leading cost position for grid-scale battery systems based on an innovative zinc hybrid cathode-based technology. After two rounds of financing, additional funds to support scale-up and delivery of MW-scale product were needed. Continue reading
Transaction advisory: Joint venture
Saudia Arabian industrial conglomerate
About the client
The client is a multi-billion US dollar Saudi Arabian conglomerate who is active in a diverse range of industries in the Middle East. One of the client’s ambitions is to become a world-class, solar independent power producer in the MENA region. Continue reading
Transaction advisory:
Project development and bid support
Industrial conglomerate in GCC
About the client
The client is a multi-billion US dollar GCC conglomerate headquartered in Saudi Arabia, who seeks to enter the PV industry.
Task
To support the client with a market-entry strategy and bid preparation for solar PV IPP tenders in the MENA region.
Strategy consulting:
Marketing & sales
Large global chemical corporation
About the client
The client is one of the world’s top 15 chemical corporations, based in Europe.
Task
The client had just finished product development and qualification of a state-of-the art polymer-based PV backsheet product. Apricum was commissioned to design a marketing & sales strategy, including identification of the most attractive customer segments, product and price positioning.
Strategy consulting:
Market-entry strategy
International solar IPP
About the client
The client is one of the leading, globally active independent solar power producers with a focus on large utility-scale projects. Headquartered in Europe, it develops, builds, owns and operates solar power plants around the world. As an early mover, it actively seeks to enter new markets based on the potential for attractive PV opportunities.
Transaction advisory:
Due diligence
European industrial conglomerate
About the client
The client is a multi-billion euro industrial conglomerate in the energy sector, based in Europe.
Task
To conduct a technical and commercial due diligence for a large-scale manufacturing project investigating high-efficiency PV cells and modules.