Epuron has acquired wind park Cottbuser Halde in Brandenburg, eastern Germany from Green Wind Renewables, part of Danish wind energy group Green Wind Energy, which is currently in reconstruction proceedings under Danish bankruptcy law. The add-on acquisition by the Hamburg and Paris-based wind park developer is being funded by its owner Impax New Energy Investors II, an investment fund managed by environmental investor Impax Asset Management Limited.
EPURON today announces that it has acquired the 28 MW operating wind park Cottbuser Halde in Brandenburg, eastern Germany from Green Wind Renewables A/S, part of Danish wind energy group Green Wind Energy, which is currently in reconstruction proceedings under Danish bankruptcy law.
The add-on acquisition by the Hamburg and Paris based wind park developer and operator EPURON is being funded by its owner Impax New Energy Investors II L.P (“NEF II” or “the Fund”), an investment fund managed by Impax Asset Management Limited (“Impax”), one of the leading specialist managers of listed and private equity funds dedicated to investing in the environmental markets.
The Cottbuser Halde wind park consists of 14 Vestas V90 turbines and has been in operation since early 2009. Long-term project financing is in place with Deutsche Kreditbank.
EPURON develops, finances, constructs and operates wind farms in Germany and France. The transaction is an important strategic investment for EPURON as it more than doubles its German operating wind park portfolio in size, from 23 MW to 51 MW, creating critical mass and strategic importance in the German market.
EPURON’s Managing Director and Group CFO, Michael Weißflog, said:
“Impax is an investor ideally placed to support the strategy of EPURON in building a significant wind energy portfolio. This is a rare opportunity to acquire a German operating wind farm at attractive terms.
“The acquisition is in line with EPURON’s growth strategy and the Cottbuser Halde wind park has a good geographic fit with our existing portfolio. It validates EPURON’s strategy to create a portfolio of significant size in Germany through own development and add-on acquisitions and to become a medium-sized independent renewable power producer.”
Daniel von Preyss, Managing Director Private Equity at Impax, added:
“Impax is pleased to support this acquisition as the Cottbuser Halde wind park is an important asset for the further growth of the German wind investment programme of our latest private equity infrastructure fund. We are grateful to the EPURON team for their good work in the finalisation of this complex transaction.
“The objective of NEF II’s investment in EPURON is to increase the Fund’s portfolio of operating wind assets in Germany and France, both by organic growth – i.e. further developing the projects in EPURON’s pipeline and constructing them – and by add-on acquisitions.”
For further information please contact:
EPURON Holding GmbH & Co KG
Head of Project Management +49 40 570 151 109
Impax Asset Management Limited
Daniel von Preyss
Managing Director Private Equity +44 20 7432 2617
Head of Communications +44 20 7432 2602
Gay Collins +44 20 3128 8582
+44 7798 626 282
Sylvie Szoke +44 20 3128 8573
+44 7816 095 205