ERG Spa enters agreement with Aquila Capital for the purchase of 34 MW German wind portfolio

ERG SpA has entered into an agreement with the German unit of Aquila Capital for acquisition of a 34 MW wind porfolio for a total consideration of EUR 83 million (US$43.2 milllion). 

Under the terms of the deal, ERG’s subsidiary ERG Windpark Beteiligungs GmbH takes full ownership of the three companies owning the wind farms. 

The wind projects are built in the Mecklenburg-Western Pomerania region of northeastern Germany and have been operational since 2014. The projects are equipped with 11 Vestas V112 turbines with a combined average annual output in the last four years of 89 GWh, or more than 2,600 equivalent hours per year. The wind parks receive a 20-year incentive tariff, which in 2018 was around EUR97 (US$108) per MWh on average.

The deal is subject to pending approvals from relevant authorities.