The ALH Group indirectly acquires 49.9 percent of the shares in a portfolio of sixteen solar parks from EnBW Energie Baden-Württemberg AG, with a total capacity of 597 megawatts.
The portfolio also includes the new large-scale solar projects Weesow, Gottesgabe and Alttrebbin, which were the first solar parks in Germany to be built of this size without state subsidies. These makeup around 80 percent of the installed capacity. Around 325,000 tons of CO 2 emissions can be avoided yearly simply by generating energy from these three large solar parks in an environmentally friendly manner.
All solar parks were developed at Brandenburg, Baden-Württemberg, Bavaria, Mecklenburg-Western Pomerania, Rhineland-Palatinate and Saxony locations and built by EnBW, and most of them have only been connected to the grid in recent years.
EnBW will continue to take over the operational management, service and maintenance of the systems and the marketing of the renewable electricity generated there. The amount generated annually, averaging 580-gigawatt hours, covers the needs of 200,000 German three-person households.
Common objective: investments in low-CO 2 generation
EnBW CFO Thomas Kusterer: “We are pleased to have found an investor in the ALH Group who would like to remain involved in EnBW’s solar projects in the long term. The partnership is based on cooperation over the entire service life of the systems. The sale of minority shares as part of participation models is part of EnBW’s renewable energy business model. We want to invest the sales proceeds in new growth projects in the areas of renewable energies and grids. Today this is more important than ever because every megawatt hour from renewable energies makes Germany a little more independent of fossil fuels.”
“This cooperation in the field of renewable energies is an ideal addition to our existing portfolio of onshore and offshore wind farms,” affirms Martin Rohm, Director of Investments and Finance at the ALH Group. “This investment is an important contribution to supporting our goal of substantially expanding the sustainability of our investments. As one of the largest energy suppliers in Germany, EnBW is one of the top addresses when it comes to the development and operation of plants for the production of electricity from renewable energy sources. We look forward to a long-term partnership.”
The transaction’s closing is still subject to approval by the relevant antitrust authorities and is expected for autumn 2022. Both sides have agreed not to disclose the purchase price.
Image source: Courtesy of EnBW; image credit: Paul Langrock
Read more Solar energy news here