Europe-based asset manager WPO has acquired Kaiserwetter’s German, Danish and Spanish asset management operations adding over 500MW to the former’s 5GW portfolio of serviced wind and solar.
The deal also brings WPO’s staff count to 100 dedicated personnel.
The sale-purchase agreement was notarised on 8 February and financial completion is expected by the end of the month.
WPO said that existing Kaiserwetter service contracts will continue to be managed by the same teams with the added support of the entire WPO Group.
WPO chief executive Barthelemy Rouer said: “The development of WPO over the last twelve years is a source of collective pride and our will to accelerate the energy transition is more relevant than ever.
“This is another key milestone in the successful growth of WPO and we are delighted to welcome the Kaiserwetter team on board.
“The merger of our operations brings our business to the heart of two major European markets, Germany and Spain and the uninterrupted continuance of quality services to our clients in these markets will be our first priority.”
Kaiserwetter global head of asset management Dietrich Norbert Pals said “We are very pleased that our services business provides such a good fit within WPO’s European operations and our team will now have the opportunity to work within such a well-respected international player in the renewables market-place.”