German financing firm acquires minority stake in EnBW solar sites

• ALH Group has actually indirectly acquired a 49.9% share in a 597MW portfolio of sixteen projects

The ALH Group has actually indirectly acquired a minority stake in a portfolio of sixteen solar parks of EnBW Energie Baden-Württemberg AG with a total output of 597MW for an undisclosed sum.

The German monetary companies has actually purchased 49.9% of shares in the portfolio, which includes new large-scale solar projects Weesow (envisioned), Gottesgabe and also Alttrebbin, which were the first solar parks in Germany to be integrated in this dimension without state aids.

These make up around 80% of the mounted capability.

The environmentally friendly power generation from these 3 big solar parks alone can avoid around 325,000 tonnes of CO2 emissions every year.

Located at areas in Brandenburg, Baden-Württemberg, Bavaria, Mecklenburg-Western Pomerania, Rhineland-Palatinate as well as Saxony, all the solar parks were created and built by EnBW.

Most of them have actually just been connected to the grid over the last few years.

EnBW will continue to take control of the operational management, service and maintenance of the plants as well as the marketing of the renewable electrical power created there.

The average annual amount of 580GWh produced covers the requirements of 200,000 German three-person households.

EnBW chief financial officer Thomas Kusterer claimed: "We are delighted to have actually discovered a financier in the ALH Group that want to remain associated with EnBW's solar projects in the long-term.

" The partnership is made to collaborate over the entire service life of the plants.

" The sale of minority shares within the structure of participation models belongs to EnBW's renewable energy service model.

" We mean to spend the profits from the sale in brand-new development projects in the areas of renewable energies and also grids.

" This is more crucial today than ever before, due to the fact that every megawatt hour from renewable energies makes Germany a little less dependent on fossil fuels."

ALH Group board member for capital expense and money Martin Rohm stated: "This cooperation in the field of renewable energies is a suitable enhancement to our existing portfolio of onshore and also offshore wind farms.

" This investment is a crucial payment to supporting our objective of considerably increasing the sustainability of our investments.

" As one of the biggest energy suppliers in Germany, EnBW is among the most effective addresses in the development and procedure of plants for the production of power from renewable energy resources. We expect a long-lasting partnership."

The closing of the purchase is still subject to approval by the appropriate antitrust authorities as well as is expected in autumn 2022.

Both events have concurred not to disclose the acquisition price.