The Aloys Wobben Foundation, the owner of embattled wind turbine manufacturer Enercon, and regional utility EWE aim to become one of the largest wind power generators in Germany and France in coming years.

The partners last week signed a shareholder and investment agreement to form a joint venture in which each side holds 50% of the shares and that will incorporate existing Enercon and EWE wind farms and onshore wind projects.

The JV with headquarters in Aurich, north-western Germany, will have more than 2.3GW of installed capacity at its onset and is slated to spend €4bn ($4.9bn) by 2030 in order to reach a portfolio of as much as 5GW by then. The company’s overall project pipeline will be even larger, at more than 9.4GW.

“With this signature, we affirm our common objective of creating a strong new player in the renewables sector,” said Heiko Janssen, chariman of the Aloys Wobben Foundation.

“By bundling our strengths, we increase our impact considerably to the ultimate benefit of the conversion of energy supply systems to renewables and climate protection.”

After the collapse of its German home market for onshore wind turbines, Enercon currently is carrying out a harsh restructuring programme aiming at cutting down on the number of suppliers and speeding up its internationalisation.

Nevertheless, the new wind power generation JV will take a manufacturer-independent approach in the implementation of projects, Enercon claimed. Corporate management of the new company will lie within EWE’s remit, but the Aloys Wobben Foundation will appoint the chair of the supervisory board.

EWE and Enercon, which are rooted in the same German region of Eastern Friesland, have been closely cooperating for years.

“In recent months, we have created the basis for a common enterprise that will be a key player in the desperately needed expansion of wind energy generation in Germany and Europe,” EWE chairman Stefan Dohler said.

“We want to increase the share of renewable energies significantly and permanently across sectors because without enough eco-power, the sustainable conversion of our society and a climate-neutral Europe will remain wishful thinking.

“Our joint company, with its roots in the region, will therefore focus on growth, cover the complete value chain, and combine both firms’ years of expertise so that we gain new strength.”

The JV plans to develop own projects in its core market and also develop customer projects. The company will also include Düsseldorf-based direct marketer Quadra Energy.

The new operator and developer initially will have about 200 employees. Closing of the transaction is expected in the spring of next year, subject to anti-trust approval.

Wind

Enercon and EWE aim to become new European wind power giant by 2030