News Release from 8.2 Group e.V.

Wind Industry Profile of

8.2 Group e.V.

07/25/2022

8.2 Consulting AG advises Qair in its European expansion course

After the announcement of the insolvency application of Green City AG in Munich, Qair Group, a European independent producer of renewable energies, positioned itself to take over assets from the insolvency estate. At the end of March 2022, Qair commissioned 8.2 Consulting AG to prepare a Red Flag TDD to evaluate the development projects from the photovoltaic and onshore wind energy sectors – which resulted in Qair taking over the core business of the insolvent Green City AG.

As a technical network of experts, the 8.2 Group has been the point of contact for inspections and consulting services in the field of renewable energies for more than 25 years. During this time, the experts from 8.2 Consulting AG technically evaluated transactions with a project volume of approx. 20 GW in the field of onshore and offshore wind energy.

With this expertise, paired with the technical knowledge from over 65,000 inspections worldwide and the fast response time, Qair was able to successfully acquire the development projects. The targeted 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, almost all of them are still in various stages of development, and 8 German photovoltaic projects, their construction is planned for 2022 and 2023. Due to the tight time frame, the project partners decided on an evaluation with a focus on the most important technical parameters, which should primarily rule out knockout criteria for the further course of the transaction; no legal or tax advisory services were provided.

The cooperation turned out to be 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 says: “We would like to thank the 8.2 team for the constructive cooperation, which made a significant contribution to our success in the sales process. We are pleased that we have now managed to enter the largest European market for renewable energies. With the acquisition of the project development business from Green City, 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 for this success and welcome on the German market. We are proud to have supported you with our technical knowledge about onshore wind and PV and looking forward to assist you in the realization of the upcoming projects. “