EDF Renewables Acquires a Significant Pipeline of 300 MW Wind Projects Under Development in Germany

Source Press Release
Company EDF 
Tags Asset Deals, Deals, Renewable Energy, Power
Date September 11, 2019

EDF Renewables is announcing the acquisition of a significant wind projects pipeline of around 300 MW under development across Germany from Altus AG, a major player in the German wind energy sector. Altus AG will pursue the local development of these projects closely with  EDF Renewables up to the construction of the future windfarms.

Located in 10 different federal states, the projects are at various stages of the development process. The land lease contracts are secured and environmental studies are on-going.
Once fully permitted, the projects will participate to the onshore wind auctions organized by the German Federal Government in order to secure 20-year Power Purchase Agreements.

The commissioning of these wind farms is due to happen during the next five years.

The acquisition of these onshore projects is in line with EDF Renewables’ strategy aimed at developing, building, owning and operating renewable energy assets in a long-term perspective in Germany. First European country in terms of installed renewable energy capacity, this country is indeed a major market in which  EDF Renewables has the ambition to strengthen its position by 2030 to be ranked among the significant players of the German wind energy market.

EDF Renewables already operates more than 580 MW of wind projects in Germany through its subsidiaries, among which 400 MW offshore wind capacity as an operation and maintenance service provider. In 2018,  EDF Renewables has built and commissioned its first repowered wind farm in Thuringia.

Frédéric Belloy, Executive Vice President International Operations at EDF Renewables, stated: “We are delighted to partner with Altus to develop this large-scale wind energy pipeline. This deal is a good opportunity for  EDF Renewables to strengthen its project development positions in Germany, a country  which wants to reach 65% of renewable energy in its electricity consumption by 2030 (vs 27,4% in 2014). This new step in the country also fits the  EDF Group’s CAP 2030 strategy aimed at doubling its renewable capacity, both in France and worldwide between 2015 and 2030”.

Source: EvaluateEnergy® ©2020 EvaluateEnergy Ltd