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VERBUND AG
M&A Activity • Oct 25, 2023
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M&A Activity
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Corporate | 25 October 2023 08:29
VERBUND AG: Acquisition of a 56.4 MW wind portfolio in Germany
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
25.10.2023 CET/CEST This Corporate News was distributed by EQS Group AG. www.eqs.com
| Language: | English |
| Company: | VERBUND AG |
| Am Hof 6A | |
| 1010 Wien | |
| Austria | |
| Phone: | 0043-1-53113-52604 |
| Fax: | 0043-1-53113-52694 |
| E-mail: | [email protected] |
| Internet: | www.verbund.com |
| ISIN: | AT0000746409 |
| WKN: | 877738 |
| Indices: | ATX |
| Listed: | Vienna Stock Exchange (Official Market) |
| EQS News ID: | 1756547 |
| End of News | EQS News Service |