ERG completes purchase of 224 MW wind assets from Windwärts
ERG, through its subsidiary ERG Power Generation S.p.A, has completed the acquisition of a 224 MW onshore wind portfolio located in Germany from Windwärts GmbH.
The pipeline includes 13 projects in various stages of development and is located in the windy northern regions of Schleswig-Holstein and Lower Saxony, where production rates of circa 3,000 equivalent hours can be achieved.
The acquisition was based on an agreed fixed price accompanied by earn-out and bonus payments subject to the successful development and operation of the pipeline projects. This is ERG’s first development staged portfolio acquisition to have closed successfully following the decision to concentrate their German operations through an affiliate office in Hamburg.
Watson Farley & Williams (WFW) has advised ERG S.p.A in the deal.
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