New acquisition in France EnBW includes Commerz Real in portfolio of 14 wind farms

Commerz Real has acquired 49.9 percent of the shares of a portfolio of fourteen onshore wind farms of EnBW Energie Baden-Württemberg AG with 47 wind turbines and a total output of 133 megawatts for its klimaVest impact fund. Situated at various locations in Baden-Württemberg, Brandenburg, Rhineland-Palatinate and Saarland, they were developed and built by EnBW and the majority started operations in 2017. 

EnBW will continue to manage, service and maintain the plants and market the renewable electricity generated there. Its annual production of around 300 gigawatt-hours covers the calculated demand of more than 100,000 German three-person households. All plants benefit from a feed-in tariff in accordance with the German Renewable Energies Act (EEG). 

The transaction is still subject to approval by the relevant antitrust authorities and is expected to be concluded in spring 2021. Both parties have agreed not to disclose the purchase price. 

EnBW CFO Thomas Kusterer: "We are delighted to have found an investor in Commerz Real who wants to remain involved in EnBW’s projects in the long term. The partnership is based on a collaboration over the entire service life of the plants. We want to invest the sales proceeds in new growth projects, primarily in the area of renewable energy."

“This cooperation is an important milestone for both klimaVest and Commerz Real,” says Gabriele Volz, Chairman of the Commerz Real Management Board. “As one of the largest energy suppliers in Germany, EnBW is also one of the best providers for the development and operation of systems for the production of electricity from renewable energy sources, and we hope that many more joint projects will follow.”