Enercon-owner and EWE to form new wind development company
Aloys Wobben Foundation (AWS) and German energy firm EWE have agreed to form a joint venture targeting onshore wind project development.
Image source: Wind Power Monthly
Germany, Aurich: Aloys Wobben Foundation (AWS) and German energy firm EWE have agreed to form a joint venture targeting onshore wind project development.
The two partners plan to merge their existing development portfolios and pipelines to create a new company with more than 2.3 GW of installed capacity and another 9.4 GW-plus to follow. These projects would mostly be built in Germany and France, as well as in other European countries.
Enercon will continue to operate in these core activities once its restructuring process is completed.
AWS and EWE aim invest up to $4.9 B (€4 B) by 2030 and expand by more than 200 MW annually to increase the operational portfolio to as much as 5 GW by the end of the decade.
The company will also include Enercon’s power trading arm Quadra Energy.
Closing of the transaction is due to take place in spring 2021, subject to approval by antitrust authorities, the partners stated.
The company will be headquartered in Aurich, Germany – where Enercon is based – although its 200 employees would likely be distributed at several locations, including EWE’s home of Oldenburg.
The as yet unnamed new entity will develop its own wind farms, as well as projects for third-party customers.
EWE will provide the company’s corporate management, while the Aloys Wobben Foundation will appoint the chair of its supervisory board.
Source: Wind Power Monthly