ERG, through its subsidiary ERG Power Generation SpA, has completed with Windwärts Energie GmbH the acquisition of a pipeline of wind projects in Germany with a total capacity of 224 MW. Windwarts, which has a long experience as a developer, is a pioneer in the renewable energy sector in Germany and a 100% subsidiary of the utility MVV Energie AG. The early-medium stage pipeline, totaling approximately 224 MW, is made up of 13 projects in different stages of development, 4 of which, in a more advanced stage, are considered by the Regional Plans.
The projects are located in Northern Germany, precisely in Lower Saxony and Schlewig-Holstein, in particularly windy areas and have an estimated average producibility exceeding 3.000 equivalent hours. The total price agreed in terms of Enterprise Value is about 4 million euros, split between an upfront payment at closing and subsequent amounts related to the development of the projects. This transaction, which follows the entry into operation of the Linda wind farm (see CS dated 21/6/19), represents a further step in ERG's path of organic growth and consolidation in the main European wind market, the third in the world , as an industrial operator active not only in asset management, but also in development and construction.
In the middle of the day, the Erg stock approaches 18 euros per share on the Stock Exchange, gaining about half a percentage point.
