Iberdrola Sells German Onshore Wind Assets to Utility MVV Energie
Clean Edge News
MVV Energie, the Mannheim-based energy company, is taking over seven wind farms in Germany from the Spanish energy group Iberdrola. The overall package involves 40 wind turbines with a total output of 62.9 MW. The wind farms are located in the German states of Nordrhein-Westfalen, Rheinland-Pfalz, Hessen, Thüringen und Sachsen-Anhalt and the turbines themselves began operations between 2003 and 2008.
By acquiring these wind farms, the MVV Energie Group will double the electricity generation capacity in its wind power business from 73 megawatts currently to 136 megawatts. The electricity generated at the wind farms newly acquired is theoretically sufficient to supply around 30,000 households and to avoid emissions of more than 78,000 tonnes of CO2 a year.
According to Dr. Georg Müller, CEO of MVV Energie, the project will thus also make a key contribution towards building a sustainable energy supply. "As a proven, market-conformant technology, onshore wind power in particular is - alongside biomass and biogas - at the centre of our investment programme to expand renewable energies. Our strategy, with its focus on profitability and sustainability, involves both acquiring existing onshore wind parks and developing our own new wind power projects, especially in southern Germany".
A purchase price of Euro 52.7 million ($68 million) has been agreed. This price, which is based on current expectations as to the electricity volumes generated at the wind farms, also includes the assumption of liabilities. The transaction still has to be approved by the Federal Cartel Office.