E.on acquires stake in turbine provider for businesses

German utility E.on SE (ETR:EOAN) said today it has taken a stake in a start-up provider of wind turbines for business customers called b. ventus.

The investment was made as part of :agile, E.on's accelerator for energy-related start-ups.

"We chose b. ventus as a partner because the company has developed a promising, innovative business idea that we want to ramp up," said Alexander Montebaur, chief executive of E.dis, which along with Avacon, both regional energy supply companies part of E.on in Germany, acquired stakes in the business. Financial details were not provided.

E.on Kundenservice Netz, Fallersleber Elektrizitaets-Aktiengesellschaft (FEAG), and the Leitner Group, also have shares in b. ventus.

E.on said B.ventus' 250-kW turbines can be installed quickly, the permitting process is short, taking a few months. A customer's investment in the turbine will ideally pay for itself in six years. The turbines can also be integrated with existing generation facilities at the sites such as solar installations.

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