Backed by established sustainable investors including Crestline Investors, Ferd and ARB Investment Partners, the company will initially seek to acquire and rejuvenate older, most likely teenage, wind farms in Germany.
Working with local communities and partners to bring new life, higher performance and shared benefit to existing sites, NeXtWind’s strategic goal is to acquire and transform a portfolio in excess of 1 GW of end-of-regulatory-life European assets.
“The older wind sites tend to have the best locations but the worst efficiencies” said Ewald Woste, NeXtWind CEO. “We’ve assembled the expertise and funding to ensure that these sites are not lost to a diminishing baseline of clean power. Indeed, with smart investment and management we expect to double the average wind harvest from these pioneering parks. With Germany phasing out coal and nuclear generation, this is important work”.
Lars Meyer, Chief Investment Officer at NeXtWind, added that the energy transition must keep moving forwards and an increasingly important ingredient to that will be the rejuvenation of Europe’s early green energy sites. In Germany alone, NeXtWind estimates that some 15 GW of teenage onshore wind capacity will soon need to navigate today’s market complexities and determine a proactive plan for a future that looks very different to the present.
With an active M&A pipeline already in place, NeXtWind expects to complete the acquisition of its first sites in the coming weeks. Acquired sites will either be repowered or undergo lifetime extension works. The company is currently negotiating framework agreements with some of Europe’s largest utilities in order to facilitate the signature of future Power Purchase Agreements (PPAs).
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