The ALH Group has indirectly acquired a minority stake in a portfolio of sixteen solar parks of EnBW Energie Baden-Württemberg AG with a total output of 597MW for an undisclosed sum.
The German financial services provider has bought 49.9% of shares in the portfolio, which includes new large-scale solar projects Weesow (pictured), Gottesgabe and Alttrebbin, which were the first solar parks in Germany to be built in this size without state subsidies.
These account for around 80% of the installed capacity.
The environmentally friendly energy generation from these three large solar parks alone can avoid around 325,000 tonnes of CO2 emissions every year.
Located at locations in Brandenburg, Baden-Württemberg, Bavaria, Mecklenburg-Western Pomerania, Rhineland-Palatinate and Saxony, all the solar parks were developed and built by EnBW.
The majority of them have only been connected to the grid in recent years.
EnBW will continue to take over the operational management, service and maintenance of the plants as well as the marketing of the renewable electricity generated there.
The average annual amount of 580GWh generated covers the needs of 200,000 German three-person households.
EnBW chief financial officer Thomas Kusterer said: “We are delighted to have found an investor in the ALH Group who would like to remain involved in EnBW’s solar projects in the long term.
“The partnership is designed to work together over the entire service life of the plants.
“The sale of minority shares within the framework of participation models is part of EnBW’s renewable energy business model.
“We intend to invest the proceeds from the sale in new growth projects in the areas of renewable energies and grids.
“This is more important today than ever, because every megawatt hour from renewable energies makes Germany a little less dependent on fossil fuels.”
ALH Group board member for capital investments and finance Martin Rohm said: “This cooperation in the field of renewable energies is an ideal addition to our existing portfolio of onshore and offshore wind farms.
“This investment is an important contribution to supporting our goal of substantially expanding the sustainability of our investments.
“As one of the largest energy suppliers in Germany, EnBW is one of the best addresses in the development and operation of plants for the production of electricity from renewable energy sources. We look forward to a long-term partnership.”
The closing of the transaction is still subject to approval by the relevant antitrust authorities and is expected in autumn 2022.
Both parties have agreed not to disclose the purchase price.