Enercon owner Aloys Wobben Foundation and German regional energy company EWE have signed a contract to establish a joint venture.
The deal for the 50:50 joint venture company is expected to close in spring 2021.
The new company will have an installed capacity of more than 2.3GW and a project pipeline of over 9.4GW, making it the market leader in the onshore wind sector in Germany.
The shareholder and investment agreement stipulates both parties each hold 50% of shares in existing onshore renewable energy assets owned by Enercon and EWE, while ensuring same arrangement for future projects.
The companies said the aim of setting up the joint venture is to develop one of the largest renewable energy companies operating in Germany and France, as well as target global markets.
The joint venture will realise investments worth €4bn by 2030.
The company will have its headquarters in Aurich while its 200 staff will be spread across several locations, including Oldenburg, where EWE is based.
Aloys Wobben Foundation chief executive Heiko Janssen (pictured left) said: “With this signature, we are confirming our common plan to create a new, strong player in the renewables sector.
“The joint venture is based on an inventory that is one of the largest in the industry, with a solid foundation of first-class expertise and decades of experience in both companies, passionate commitment and an impeccable reputation with our partners.”