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Windtech International May June 2024 issue

 

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Ørsted has entered into an agreement with Ostwind to acquire a 100 % equity interest in Ostwind Erneuerbare Energien , Ostwindpark Rotmainquelle, Ostwind International, and Ostwind Engineering from Ostwind AG, a holding company located in Regensburg, Germany.
 
The agreement is based on an enterprise valuation of Ostwind of € 689 million. This includes financial liabilities of the projects and companies. The final price will be subject to customary adjustments.
 
Ostwind, headquartered in Regensburg, Germany, and Strasbourg, France, develops, constructs, and manages onshore wind and solar PV projects. Ostwind has a portfolio of 152 MW in operation and under construction, approximately 526 MW in advanced development, and approximately a further 1 GW in its development pipeline. Ostwind’s existing management team will continue to run the business, which will be integrated into Ørsted’s Onshore business unit over time. Subject to merger and foreign investment clearances, the transaction is expected to close in H2 2022.
 
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