Energy firm EnBW Energie Baden-Württemberg has agreed to sell a 20% stake in a portfolio of 17 wind farms in Germany.
The stake in the portfolio, which has a combined generating capacity of 156MW, was bought for an undisclosed sum by 11 utilities and a regional energy service provider from Baden-Württemberg.
Karlsruhe-based EnBW said it is also speaking to other investors about buying a stake in the portfolio.
"This investment … gives EnBW additional financial headroom to develop and set up further windfarm projects," said EnBW.
EnBW will be responsible for maintaining and operating the portfolio, which is already operational, at a fixed price over a long operating period.
The 11 utilities involved in the deal are:
- Alb-E-Werk
- Stadtwerke Giengen
- Stadtwerke Karlsruhe
- ODR
- Stadtwerke Sachsenheim
- Stadtwerke Schramberg
- Stadtwerke Schwäbisch Gmünd
- Stadtwerke Sindelfingen
- Stadtwerke Sinsheim
- SUEnergie
- Stadtwerke Weinheim
Law firm CMS Hasche Sigle advised EnBW on the structuring and implementation of the deal.
Peter Cripps