German utility EnBW (ETR:EBK) said today it has signed a deal to buy Danish wind turbine servicing business Connected Wind Services A/S (CWS) from its majority owner Polaris Private Equity.
So far, EnBW has been planning, constructing and operating wind farms and upon completion of the takeover will be able to offer maintenance services for wind turbines, as well. The company’s goal is to gain new customers in the Nordics and Germany, it said.
“We are making good progress in the expansion of our renewable energies with 336 megawatts of offshore capacity in operation, more than 1,600 megawatts of approved offshore capacity and a secured onshore pipeline of around 1,100 megawatts,” said EnBW CTO Hans-Josef Zimmer.
The business being acquired has local service teams in Denmark, Sweden and Germany. About 50 service teams maintain around 1,800 wind turbines in these countries. Last year, the firm generated revenues of some EUR 35 million (USD 39m).
The transaction is pending clearance from the Federal Cartel Office and is seen to close in the final quarter of the year. The financial terms of the deal were not disclosed.