PRESS RELEASE

Successful start in Germany: Re-Wind acquires 29 wind turbines

Q-Energy investor funds attractive solution for wind farm owners

Berlin, 3rd April 2019 – As a new player in Germany’s wind energy market, Re-Wind investors have acquired 29 older wind turbines. Re-Wind plans to upgrade the wind farms with state-of-the-art turbines to ensure their long-term future. Re-Wind is part of the Q-Energy-group, a leading European renewable energy company with offices in Madrid and Berlin. Re-Wind pursues the goal of acquiring additional wind turbines in Germany and, if possible, to repower them to support the fossil fuels phase out. “Wind power is the crucial factor in Germany’s energy transition,” Re-Wind Managing Director Lars Meyer said on Wednesday. “We ensure that this won’t change: Together with local partners, we guarantee that German wind farms won’t be closed but will continue to operate sustainably to make the energy transition a success”.

Re-Wind primarily works with private owners of wind turbines built between 2000 and 2005. For many of these wind turbines, the feed-in remuneration for wind energy is about to expire, posing substantial technical and financial challenges for their owners. Today, it is uncertain whether the plants can be operated profitably after the expiration of the remuneration, or whether they need a new approach. “Many wind farms are threatened by closure,” said Ewald Woste, Chairman of the Management Board of Re-Wind. “If we don’t take care of the old wind turbines, the energy transition threatens to fail.” Re-Wind wants to avert this and looks into a repowering of the turbines. “We are replacing the older turbines with modern, more powerful wind turbines of the latest generation,” said Managing Director Meyer. “At locations where repowering is not an option, we optimise the business model and continue to operate the acquired turbines in their current condition. Doing so, we ensure the further development and long-term future of the wind sites.”

The first turbines acquired are in Waldow (Brandenburg), Schackensleben (Saxony-Anhalt), Harrienstedt (Lower Saxony) and Dortmund-Salingen (North Rhine-Westphalia) and in the federal state of Saarland. Most of them currently have a power rating of 1.5 to 2.0 megawatts each, the total power of all 29 turbines sums up to 50 megawatts. In the coming years, a large proportion of them will be replaced by modern plants with a power rating of 4 to 5 megawatts. The acquisition of the first 29 wind turbines will soon be followed by further investments, for which Re-Wind is currently in talks with their present owners.

INFORMATION

About Re-Wind

Re-Wind GmbH & Co. KG is a newly founded investment company based in Berlin. Managing Director of Re-Wind is Lars Meyer, Chairman of the Management Board is Ewald Woste. In addition, Werner Süss, Robert Rügemer, Ciro Capricano, Franz Biesinger and Uwe Sager support the operative business thanks to their large expertise. The aim of Re-Wind is to acquire older wind turbines in Germany. Re-Wind is a fully funded company for sustainable investments in renewable energies. Re-Wind is part of the Q-Energy-group, a leading European renewable energy company with offices in Madrid and Berlin.

Media contact

Ralf Kunkel
Managing Director
Bernstein Group
Phone: +49 (0) 30 275 723 21
Email: kunkel@bernstein-group.com