Axpo subsidiary Volkswind concludes the sale of four newly developed wind farms

30.09.2016 - Volkswind GmbH, an Axpo subsidiary, has fulfilled all the conditions required for the conclusion of the sale of four newly developed wind farms. As of 30 September 2016, the plants in Western France will become the property of Chorus Clean Energy AG, a company specialising in the operation of solar and wind energy plants. This is the first time Axpo has sold newly developed wind power plants out of the portfolio of its subsidiary Volkswind, which was taken over by Axpo last year. The sale is in line with Axpo’s strategy to realise higher value added from the business with the construction, development and sale of wind power plants.

On 22 June 2016, Axpo announced that its subsidiary Volkswind GmbH had concluded an agreement with the German Chorus Clean Energy AG for the sale of four newly developed wind farms included in the extensive portfolio of the Volkswind Group. The transaction has now been completed: All the conditions set down in the agreement of 22 June have been fulfilled by Volkswind, and the four wind farms will be transferred to the new owner per 30 September 2016. The transaction volume amounts to some 120 million euros.

The four wind farms are located in the region of Poitou-Charentes in Western France not far from the Atlantic coast. While two of the smaller wind farms with a capacity of 16 MW (8 wind turbines) have been on grid since 2015, the two larger plants with a total capacity of 46.2 MW (14 turbines) were commissioned just recently: The Maisontiers wind farm has been on grid since 15 August 2016, the Glenay wind farm followed on 12 September. In their first year of full operation, the plants will generate about 148 gigawatt hours (GWh) of electricity and cover the annual consumption of some 30,000 households.

Christoph Sutter, Head of the New Energies division at Axpo, explains the sale: „With the acquisition of Volkswind about a year ago, Axpo has gained entry into the lucrative market for the development, construction and sale of wind farms. It is part of our strategy to generate targeted, additional revenues in the wind area. We have now sold a Volkswind wind farm portfolio for the first time. This confirms that our investment in Volkswind is paying off.“

In addition to the sale of the four wind farms, Axpo and Chorus have also concluded a long-term contract over a ten-year period, which ensures Axpo operational management of the farms on behalf of the German investor. In the future, Axpo plans to consistently expand the business with the development, construction, and sale of wind farms, as well as the operation of plants for third parties.

Axpo is keeping all options open with regard to the Volkswind wind farm portfolio. This also includes the autonomous operation of completed plants. In the upcoming months, additional construction projects out of the extensive Volkswind wind farm project pipeline will be realised.