Commerz Real has acquired 49.9 percent of the shares in a portfolio of fourteen onshore wind farms from EnBW Energie Baden-Württemberg AG with 47 wind turbines and a total output of 133 megawatts for its Klimavest impact fund. Located at different locations in Baden-Württemberg, Brandenburg, Rhineland-Palatinate and Saarland, they were developed and built by EnBW and most of them went into operation in 2017.
EnBW will continue to take over the operation, service and maintenance of the systems as well as the marketing of the renewable electricity generated there. Its annual generation of around 300-gigawatt hours covers the arithmetical requirement of more than 100,000 German three-person households. All systems benefit from a feed-in tariff in accordance with the Renewable Energy Sources Act.
The completion of the transaction is still subject to approval by the relevant antitrust authorities and is expected in spring 2021. Both sides have agreed not to disclose the purchase price.
EnBW CFO Thomas Kusterer: “We are delighted to have found an investor in Commerz Real who would like to remain involved in EnBW’s projects over the long term. The partnership is based on cooperation over the entire operating life of the systems. We want to invest the sales proceeds in new growth projects, primarily in the field of renewable energies.”
“This cooperation is an important milestone for both the Klimavest and Commerz Real,” said Gabriele Volz, Chairwoman of the Board of Commerz Real. “As one of the largest energy suppliers in Germany, EnBW is also one of the best addresses for the development and operation of systems for the production of electricity from renewable energy sources, and we hope that many more joint projects will follow.”
Image source: Courtesy of EnBW
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