More than 100 potential investors have expressed interest in acquiring all or parts of Enerparc AG, one of Germany’s largest independent solar power producers, following its insolvency filing in early September.

According to information obtained by pv magazine, initial indicative bids have already been submitted. Investment bank Rothschild has been appointed to oversee the mergers and acquisitions (M&A) process, with a decision on which bidders will advance to the next stage expected from mid-October.

Preliminary insolvency administrator Stefan Denkhaus told pv magazine that he was confident a first transaction could be agreed before the end of the year.

“We already have indicative offers in hand, with more to follow, and I am very optimistic that we will be able to announce a transaction in December,” Denkhaus said.

The initial transaction is expected to cover solar park portfolios, the project pipeline and stakes in companies including Sunnic Lighthouse and Enerparc Service, as well as the workforce. Further transactions involving additional solar park portfolios are unlikely to be completed before the first quarter of 2027.

Denkhaus said he would favor bidders interested in acquiring Enerparc as a whole. The company is one of Germany’s largest independent power producers (IPPs) in the solar sector, with vertically integrated operations spanning project development, construction and electricity marketing.

According to information obtained by pv magazine , potential bidders include both strategic investors, such as utilities, and financial investors. A capital increase that would allow an investor to acquire a stake in the existing public limited company appears unlikely.

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