With the acquisition, ERG takes its installed power in the country to 272MW
Image: ERG has acquired 34MW wind portfolio in Germany. Photo: courtesy of Free-Photos/Pixabay.
ERG Windpark Beteiligungs, the energy arm of Italian group ERG, has acquired a portfolio of three wind farms in Germany with a combined capacity of 34MW.
The completion of the acquisition follows the receipt of approvals from the German antitrust authorities.
With the acquisition, the company takes its installed power in the country to 272MW.
Located in the Mecklenburg-Western Pomerania region of north-east Germany, the wind farms are owned by the German investment firm Aquila Capital and have been operational since 2014.
The farms are equipped with 11 Vestas V112 wind turbines, with an average output of 89GWh in the last four years or more than 2,600 equivalent hours per year and approximately 67,000 tonnes of avoided CO2 emissions per year.
ERG CEO Luca Bettonte said: “The wind farms acquired, which can be defined as best-in-class owing to the high technological and windiness quality that characterises them, allow us to target well ahead of schedule the Mergers & Acquisitions objectives included in the Business Plan with a view to supporting growth.
“Moreover, our knowledge of the acquired facilities, whose technical and commercial management we have been handling for the past two years, and their localisation in the vicinity of other Group wind power assets, will enable the achievement of additional industrial synergies.”
For the transaction, Rothschild & Co. Italia was the financial advisor for ERG, while Taylor Wessing was the legal advisor.
Other projects acquired by ERG in Germany
In June, ERG, through its subsidiary ERG Power Generation, finalised the acquisition of a pipeline of wind power projects in Germany with a total capacity of 224 MW.
The projects are located in the north of Germany, namely in Lower Saxony and Schleswig-Holstein, in particularly windy areas. Acquired from Windwärts Energie, the project pipeline consists of 13 projects at various stages of development, four of which at a more advanced stage, are covered by the Regional Plans.