The Axpo subsidiary Volkswind sells four newly developed wind farms to German investor
22.06.2016 - Volkswind GmbH, an Axpo subsidiary, has concluded an agreement with Chorus Clean Energy AG for the sale of a wind farm portfolio in Western France. Chorus Clean Energy AG is special-ised in the operation of solar and wind energy plants. With the agreed upon sale of the four wind farms with a total installed capacity of 62.2 Megawatt (MW) to the German company, Axpo is consistently implementing its wind energy strategy. Axpo intends to realise higher added value from the renewable energies business.
The agreed upon transaction in the range of 120 million EUR comprises the sale of four newly developed wind farms included in the extensive portfolio of the Volkswind Group, which was taken over by Axpo last year. Two smaller wind farms with an installed capacity of 16 MW (8 wind turbines) have been on grid since 2015. The commissioning of two larger farms with a total of 46.2 MW (14 turbines) will take place in the course of the third quarter of 2016. All four wind farms are located in the region of Poitou-Charentes in Western France not far from the Atlantic coast. In their first year of full operation, the plants will generate about 148 gigawatt hours (GWh) of electricity and cover the annual consumption of some 30,000 households.
In addition to the agreed upon sale of the four wind farms, Axpo and Chorus have also concluded a long-term contract over a ten-year period, which ensures Axpo operational management of the farms on behalf of the German investor.
Christoph Sutter, Head of the New Energies division at Axpo, is pleased about the conclusion of the agreement: „For Axpo and Volkswind, this is a consistent step forward in implementing our wind strategy. Our goal is to generate opportune, targeted revenues in the wind area. In addition to development and construction of wind farms this also includes the sale of certain plants and the operation of plants on behalf of investors.“
Investment in Volkswind pays off
With last year’s purchase of Volkswind, a leading wind farm developer and operator in Germany and France, Axpo took over a total of 31 operating wind farms with a capacity of 154 megawatts (MW) and also acquired a major project pipeline in Germany and France (500 MW of which has already been granted construction approval, and another 2,500 MW in various stages of development). With the acquisition of the Volkswind Group, Axpo has not only gained entry into the market for the development, construction and sale of wind farms. In addition, Axpo now has additional options in the wind business, such as the operation of plants for third parties. Axpo plans to consistently expand these business fields in the future.
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