Enercon owner Aloys Wobben Stiftung (AWS) and EWE have officially launched their joint venture to develop and operate onshore wind energy projects.
Following the approval of the antitrust authorities, the shareholders’ and investment agreement signed in December came into force on 26 March and the new company, called Alterric, commenced its operation.
AWS, which is the sole shareholder of the Aurich-based wind turbine maker Enercon, and EWE each hold 50% in Alterric.
The aim of the company is to become “one of the leading producers of green energy” in Germany and France and grow in other countries too.
The shareholders of Alterric have brought the existing wind farms and onshore projects belonging to Enercon into the 200 employee-strong joint venture, giving Alterric more than 2300MW of installed capacity in its portfolio in total and a project pipeline of more than 9400MW.
The aim is to add more than 200MW every year and expand the portfolio to up to 5GW in 2030. Investments using investments of around €4bn over this decade.
As well as adding to its own portfolio of wind energy converters in the core markets, Alterric will also develop customer projects.
It will operate independently and is not integrated in the organisational structures of the parent companies.
Heiko Janssen, chairman of the board of the Aloys Wobben Stiftung (right), said: ‘Today we are launching our joint venture Alterric together, which aims to drive forward the expansion of onshore wind energy in Germany and Europe significantly.
“This is a great moment for us and the culmination of months of meticulous preparation by our dedicated project team from both companies.
“We want to offer our heartfelt thanks to all those involved for their remarkable efforts! Your work is a prime example of the cooperative relationship that will shape the internal and external culture of Alterric and will prove one of our strengths in the competition.”
The company will be managed by EWE, while the Aloys Wobben Stiftung will chair the supervisory board.
The interim management will be led by Jan-Knut Brune and Urban Keussen.