EnBW will thus swiftly rise to become a significant player in the fast growing area dealing with the service and maintenance of wind turbine generators.

In particular, the aim is to tap the potential for new customers in the Nordics and Germany together with CWS. At the same time, EnBW is strengthening its position as a full-service provider for the planning, construction, operation, maintenance and service of wind farms.

The transaction documentation was signed yesterday with Polaris Private Equity, the majority shareholder of CWS. The contractual partners have agreed not to disclose the purchase price. The acquisition is subject to the approval of the Federal Cartel Office. The process for examining the acquisition is due to take place in the next few weeks and the transaction is expected to be completed in the fourth quarter of 2016.

CWS is a market leader amongst the ISPs for turbine maintenance in Europe with local service teams in Denmark, Sweden and Germany and thus commands an excellent starting position for further growth together with EnBW in the future. CWS will remain an independent brand and will join forces with the activities of EnBW for the further expansion of wind energy.

The company’s roots go back to 1987. CWS is headquartered in Balle/Denmark with national subsidiaries in Germany (Rantrum) and Sweden (Falkenberg) and has 29 years of experience as an independent provider of maintenance services.

With a total of 190 employees, the company generated revenues of approx. €35m in 2015. Around 50 service teams maintain around 1,800 wind turbines and CWS furthermore provides complex service projects for wind turbine generators throughout Europe. Providing excellent availability and delivery time, the company operates a modern workshop in the former Nordtank / NEG Micon factories for the refurbishment of wind turbine components including MW gearboxes at its premises in Balle.

EnBW CTO Hans-Josef Zimmer said: “We are making good progress in the expansion of our renewable energies with 336MW of offshore capacity in operation, more than 1.6GW of approved offshore capacity and a secured onshore pipeline of around 1.1 GW. We have been successfully planning, constructing and operating wind farms for many years.

By acquiring CWS we are now expanding this range of services to include maintenance and servicing because we want to grow further – and faster. CWS opens up the possibility for us to also play an active role in new markets.

“CWS is one of the leading providers of maintenance services for wind turbines in Europe and has an experienced team with great expertise. In combination with the energy industry know-how and financial capacity of EnBW, we will generate growth together by offering a range of services on the European market. EnBW and CWS complement each other outstandingly. Together we will be stronger.”

CWS CEOCarlos Christensen said: “In order to successfully develop CWS further, we believe that EnBW as the future owner will be an excellent partner who will open up new growth opportunities for us. Within the European wind industry, EnBW is one of the most growth dedicated energy supply companies.

"The size and the expertise we gain from the new ownership will clearly be to the benefit of all our customers. In return, with CWS EnBW is securing solid service and maintenance expertise, this is absolutely a win-win for all”,

Polaris Private Equity partner Henrik Bonnerup said: “Since our acquisition of CWS in 2012, we have supported the expansion of the company from a strong Danish base into a company with local presence in Denmark, Germany and Sweden and with full European coverage.

"During our ownership, the number of wind turbine generators in service contracts has grown more than 300% and the company has been industrialized in all aspects in order to be able to service even the largest and most demanding European utility companies with wind turbine services of the highest quality and adhering to the highest safety standards.

"We are proud that a highly reputable utility company such as EnBW, with its acquisition is acknowledging the high standards of CWS and we are certain that EnBW is the right future owner for CWS, generating growth for both companies.”