MVV will acquire Juwi’s shareholding interest through a capital increase.

Established in 1996, Juwi offers project development services and products for the energy industry.

Till date, Juwi deployed around 770 wind turbines with capacities of about 1,600MW at over 100 locations as well as over 1,500 PV systems with total capacities of about 1,400MW.

The energy systems generate a combined total of approximately 5.5 billion kWh of energy per year.

MVV Energie CEO Georg Müller said the new participation represented a major step for the Mannheim-based group of companies within its MVV 2020 strategic realignment launched in 2009.

"The transformation currently underway in the German energy supply is all about combining renewable and conventional energies as key pillars of the future energy system in a way that makes both economic and ecological sense."

A combined 49.9% stake in the company will be owned by Juwi founders Fred Jung and Matthias Willenbacher upon completion of the transaction, scheduled by the end of 2014.

Jung and Willenbacher said: "We are delighted to be teaming up with Mannheim-based MVV Energie AG, which is already extremely active in the field of renewable energies and is now interested in the sustainable and strategic expansion of this commitment together with us."