Two Market Access Routes, one Investment Advantage.
CYCAP invests in wind and solar parks as well as battery storage systems — sourcing opportunities through two complementary channels: directly from the market and from within our own portfolio.
On-Market means rapid access to projects across Europe, regardless of their development stage at the time of transaction. Our network of developers, sellers, and financing partners gives us access to assets before they are publicly marketed.
Off-Market means we do not rely on the market alone. With 103 operational assets and more than 100 proprietary grid connection points, we originate investment opportunities directly from our existing portfolio: through repowering, hybridization, and the expansion of established infrastructure, we reduce development risk and unlock return potential that no third party can replicate.
Both access routes are managed entirely in-house. Technical due diligence, capital discipline, and ESG assessment are handled exclusively by our internal specialists — reducing external dependencies and maintaining full oversight.
25
+
Years of renewable energy asset transactions
90
Transactions
103
Assets acquired
2000
+
Landowners and municipalities developing assets alongside us
31.12.2025
Our
Transaction Track Record
Our portfolios comprise 56 solar and 47 wind assets.
Our installed asset base comprises 0.7 GW of solar and 1.5 GW of wind capacity.
Our assets are diversified across six European countries, with Germany representing our largest market.
CYCAP’s
Market Access
With specialized teams of 70 experts covering the full market, our M&A team identifies the most compelling transactions while our Asset Development team works in close partnership with landowners and municipalities to advance assets into their next lifecycle phase.
On-Market
CYCAP acquires wind, solar, and BESS projects across Western, Central, and Northern Europe — preferably directly from developers and ideally with potential for follow-on transactions.
As a wholly owned subsidiary of Brookfield Asset Management, we have access to a bridge financing facility for warehousing purposes. More than 100 completed transactions over 25 years demonstrate our decisiveness, integrity, and closing reliability. Transaction risks are transparently outlined in the LOI and commercially allocated, providing planning certainty for both parties from initial agreement through to closing.
Assets acquired by CYCAP are actively managed and optimized for value creation across their full lifecycle.
Off-Market
CYCAP’s portfolio of more than 100 operational wind and solar assets across Europe is not only our track record — it is our proprietary, near-term-activatable project pipeline.
Existing grid connections, secured land rights, and established relationships with municipalities and landowners make these sites the foundation for hybridization, expansion, and repowering — without the lengthy permitting processes inherent to conventional greenfield development.
These assets form the basis of the next generation of CYCAP investment vehicles and are exclusively accessible to CYCAP’s investors.
Strong Deal Flow
in Established Markets
ON-MARKET
Operational & Ready-to-Build Assets
Acquisition of fully permitted, operational wind, solar, and BESS assets in established core markets (Germany, Netherlands, Spain, Northern Europe). Government-backed revenue support (EEG, SDE, FER-X) or high-quality PPAs. Immediate cash flows, rapid portfolio integration, target net IRR 6–8%.
ON-MARKET
Ready-to-Build Projects & Development Stage Assets
Acquisition of projects from early development stage across all technologies and risk profiles. Primarily suited for core-plus and value-add strategies. Early market access through an established network: CYCAP is frequently aware of relevant transactions ahead of formal marketing.
OFF-MARKET
Repowering & Hybridization from Existing Portfolio
Systematic advancement of 103 operational assets through turbine or module replacement and the addition of complementary technologies at existing grid connection points. Established infrastructure, long-standing stakeholder relationships, and permitting history structurally reduce development risk. Target net IRR 10–12%.
OFF-MARKET
Capacity Expansion & BESS Integration
Capacity expansion at existing sites through additional generation from the same or complementary technologies. Utilization of existing cable routes, access infrastructure, and grid connection points. BESS integration as a standalone opportunity — particularly in markets with high power price volatility.
Repowering &
Hybridisierung
How repowering and hybridization are redefining the investment case for clean energy
Read why the next stage of the energy transition starts with existing assets, how to unlock the full potential of these assets through repowering and hybridization, and how investors can benefit from integrated energy solutions and comprehensive portfolio management.
Frequently Asked Questions
CYCAP’s Acquisition Criteria
What does CYCAP acquire?
CYCAP is a specialized renewable energy asset manager headquartered in Hamburg, acquiring wind, solar, and BESS (battery storage) projects across all development stages – from early-stage development through to completed turnkey assets and operational assets with repowering potential. Founded in 2000, CYCAP has to date realized 103 projects with 2.2 GW(p) of installed capacity and €2.7 billion in assets under management (December 2025).
In which markets does CYCAP acquire wind, solar, and BESS projects?
CYCAP acquires wind (onshore), solar, and BESS projects across Western, Central, and Northern Europe. The company maintains an operational presence in all relevant European target markets and has built a robust network of project developers, authorities, and local stakeholders over more than 25 years.
What is the minimum size requirement for wind, solar, and BESS project acquisitions?
CYCAP invests in wind, solar, and BESS projects with a minimum equity commitment of more than €10 million per transaction in Germany and more than €20 million for projects outside Germany. CYCAP is a wholly owned subsidiary of Brookfield Asset Management, one of the world’s largest infrastructure investors with approximately USD 1 trillion in assets under management (December 2025). CYCAP has secured financing structures and a bridge financing facility for warehousing purposes.
From which development stage does CYCAP acquire wind, solar, and BESS projects?
CYCAP acquires wind, solar, and BESS projects from early development stage. Permitting, cost, and completion risks are assessed on a project-specific basis, with risks and development milestone agreements allocated accordingly. From acquisition through construction to ongoing operations, CYCAP covers the full value chain with internal specialists.
Does CYCAP acquire wind, solar, and BESS projects through intermediaries?
CYCAP acquires wind, solar, and BESS projects preferably directly from the developer. Competitive processes without exclusivity are the exception. Transactions commence following commercial alignment and the granting of exclusivity via a Letter of Intent (LOI). CYCAP sources key commercial contracts (e.g., EPC, debt financing, or PPA) in parallel with the purchase agreement and negotiates transaction risks transparently and equitably.
Is CYCAP interested in long-term partnerships for wind, solar, and BESS projects?
CYCAP is explicitly committed to long-term partnerships. The company prioritizes enduring relationships with project developers, ideally with potential for follow-on transactions. With more than 100 completed transactions and over 25 years of market experience, CYCAP frequently gains access to assets before they are formally marketed.
What ownership structure is typical for wind, solar, and BESS projects?
CYCAP typically acquires wind, solar, and BESS projects with a majority stake and in most cases purchases 100% of the shares in a project or project company.
What are CYCAP’s requirements regarding technical standards and manufacturers for wind and solar projects?
CYCAP invests exclusively in wind and solar projects incorporating components from Tier 1 manufacturers. This requirement safeguards long-term operability, spare parts availability, and asset value preservation across the full lifecycle — a core element of CYCAP’s investment approach. Rigorous technical due diligence during the acquisition phase ensures that projects meet the highest standards. Decades of operational experience feed directly into transaction agreements, enabling optimal technical risk management from day one.
Who assumes operational responsibility for wind, solar, and BESS projects following acquisition?
Commercial asset management of wind, solar, and BESS projects is always retained by CYCAP. For solar projects, CYCAP’s in-house O&M team typically assumes technical operations as well. Where a seller of a wind or solar project wishes to retain technical operations, this is generally possible, subject to documented evidence of operational capability. With 103 assets currently under management, CYCAP brings exceptional operational depth to ongoing asset management. (December 2025)
What contractual requirements apply to wind, solar, and BESS projects?
For wind, solar, and BESS projects, all contracts and documentation must be available in German or English and must enable a comprehensive commercial, legal, and technical assessment. Commissioning date, OpEx line items, debt financing terms, and yield assumptions must all be known. Where individual items are not yet finalized, CYCAP works with robustly documented internal assumptions. Outstanding items are transparently outlined in the LOI and commercially allocated — providing planning certainty for both parties.
Wir stehen Ihnen zur Verfügung
Ole Jürgens
Head of Technical Management, Off-Market Sourcing
Friedrich Schenk
Head of M&A, On-Market Sourcing
The best deals are the ones you have done before. We systematically optimize and enhance the value of our 103 operational assets – driven by decades of trusted relationships with landowners and municipalities.
Ole Jürgens
Head of Technical Management, Off Market-Sourcing
We win deals by being the most reliable partner. We frequently know weeks in advance which assets are coming to market. What sets us apart is the combination of market access, commitment, and sound risk allocation.
Friedrich Schenk
Head of M&A, On Market-Sourcing