EnBW secures investment from Commerz Real in portfolio of 14 wind farms
Established portfolio with 133 megawatts rated output, feed-in tariff under German Renewable Energy Sources Act
Electricity output sufficient to supply over 100,000 three-person households
Both partners with many years of experience in renewable energy
For its Klimavest impact fund, Commerz Real has acquired 49.9 percent of a portfolio of fourteen onshore wind farms belonging to EnBW Energie Baden-Württemberg AG, comprising 47 wind turbines and a total capacity of 133 megawatts. Located at various sites in the German states of Baden-Württemberg, Brandenburg, Rhineland-Palatinate and Saarland, the wind farms were developed and built by EnBW and the majority of them went into operation in 2017.
This cooperation marks a key milestone for both Klimavest and Commerz Real. As well as being one of Germany’s biggest energy groups, EnBW is also one of the leaders in developing and operating renewable energy installations, and we hope that many more joint projects will follow.
Gabriele Volz, CEO of Commerz Real
EnBW will continue to manage, service and maintain the wind farms and market the green power they generate. Their annual output of some 300 gigawatt hours is enough to meet the needs of over 100,000 three-person households in Germany. All of them benefit from a feed-in tariff under the German Renewable Energy Sources Act.
Completion of the transaction is subject to clearance by relevant regulatory authorities and is expected for spring 2021. Both parties have agreed not to disclose the purchase price.
EnBW CFO Thomas Kusterer: “In Commerz Real, we are delighted to have found an investor with a long-term commitment to ENBW’s projects. The partnership covers the entire operating life of the wind farms. We plan to invest the sale proceeds in new growth projects, primarily in the renewable energy segment.”
“This cooperation marks a key milestone for both Klimavest and Commerz Real,” said a delighted Gabriele Volz, CEO of Commerz Real. “As well as being one of Germany’s biggest energy groups, EnBW is also one of the leaders in developing and operating renewable energy installations, and we hope that many more joint projects will follow.”