VERBUND AG: Acquisition of a 56.4 MW wind portfolio in Germany
October 25, 2023 at 07:32 am
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EQS-News: VERBUND AG
/ Key word(s): Mergers & Acquisitions
VERBUND AG: Acquisition of a 56.4 MW wind portfolio in Germany
25.10.2023 / 08:29 CET/CEST
The issuer is solely responsible for the content of this announcement.
VERBUND AG hereby announces the acquisition of a 56.4 MW wind portfolio in Germany’s federal states of Hesse, North Rhine-Westphalia and Lower Saxony. The seller is an infrastructure fund managed by Impax Asset Management.
The wind portfolio comprises five operational wind farms with a total capacity of 38.4 MW (Oedelum, Quelkhorn, Mariengarten, Münster and Frielendorf Süd) as well as a 18 MW wind project in Feldatal that is planned to come on stream in quarter 3/2024. VERBUND will only take over the project under construction after commissioning. In total the acquisition consists of 14 wind turbines manufactured by Enercon, General Electric and Vestas.
All of the wind power installations are subject to an EEG regime (EEG 2014, 2017 and 2021) and will benefit from a feed-in tariff for 20 years after being put into operation. It is possible to opt out of the feed-in tariff for all of the installations. The parties have agreed not to disclose the purchase price.
VERBUND’s 2030 strategy is to significantly expand solar and wind power so that around 20–25% of its total electricity is generated from photovoltaic systems and onshore wind power plants by 2030. The current acquisition is another step towards achieving this target and, along with the existing wind power plants in Rhineland-Palatinate with a total capacity of 86 MW, will enable VERBUND to expand its position in its extended home market of Germany.
Contact
Andreas Wollein
Head of Group Finance and Investor Relations
Tel.: +43 (0)50 313-52604
Fax: +43 (0)50 313-52694 investor-relations@verbund.com
25.10.2023 CET/CEST This Corporate News was distributed by EQS Group AG. www.eqs.com
Verbund AG is Austria's leading producer and supplier of electricity. Net sales break down by activity as follows:
- production and sale of electricity (84.5%): 63.4 TWh sold in 2022 (of which primarily 30.7 TWh in Austria, 27.5 TWh in Germany and 4.4 TWh in France). At the end of 2022, the group had 163 hydraulic plants, 163 wind parks, 4 solar parks and 2 thermal plants;
- electricity transportation (12.7%): operation of a high-voltage electrical network of 6,959 km;
- other (2.8%): consult engineering, consulting, telecommunications and tourism services, etc.