23 April 2012
EPURON Holding GmbH & Co KG, Impax Asset Management Limited
EPURON acquires German operating wind park
- Wind Park Cottbuser Halde in Brandenburg bought by Impax investee
Hamburg - 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.
EPURONís 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 EPURONís growth strategy and the Cottbuser Halde wind park has a good geographic fit with our existing portfolio. It validates EPURONís 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 IIís investment in EPURON is to increase the Fundís portfolio of operating wind assets in Germany and France, both by organic growth Ė i.e. further developing the projects in EPURONís pipeline and constructing them Ė and by add-on acquisitions."
Hamburg, 23 April, 2012
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