The challenge
Delta Development was considering acquiring a large logistics property in Venlo, occupied by a well-known fashion tenant. The building came with a substantial rooftop solar system, but owned by a third party under a long-term lease structure. The question was whether this energy infrastructure represented a hidden liability, a missed opportunity, or both.
Our approach
Bluepeak conducted an acquisition advisory, reviewing all energy-related contracts, financial documentation and the existing grid and solar infrastructure. We analysed the PV lease structure, the SDE subsidy position, energy consumption data and the commercial relationships between all parties, and modelled the financial impact of acquiring the solar system as part of the transaction.
What we delivered
A clear acquisition advisory report showing that acquiring the rooftop PV system alongside the building could unlock significant additional asset value, well in excess of the additional investment required. The analysis identified a path to increase the acquisition bid while still creating meaningful net value for the investor, supported by an additional annual SDE revenue stream running until 2033. The net potential value creation was identified as multiple times the additional investment.
Energy as a business
By treating the solar infrastructure not as a footnote but as a core part of the acquisition analysis, Bluepeak helped Delta see the full picture: turning a complex third-party energy structure into a quantified opportunity and giving them a stronger, better-informed position at the negotiating table.