September 16 (Renewables Now) - Italian energy company ERG SpA (BIT:ERG) closed on Friday its acquisition of three wind parks in Germany with a combined capacity of 34 MW.
Through its subsidiary ERG Windpark Beteiligungs GmbH, the Italian company has taken full ownership of the three companies owning the plants from a unit of German investment group Aquila Capital. According to a previous press release, the enterprise value amounts to EUR 83 million (USD 92.6m).
Located in the Northeastern region of Mecklenburg-Western Pomerania, these plants were commissioned in 2014. They were equipped by Vestas Wind Systems A/S (CPH:VWS) with 11 V112 turbines.
The wind farms had an average annual output in the last four years of 89 GWh, enough to offset some 67,000 tonnes of carbon dioxide (CO2) emissions per year. They received a 20-year incentive tariff, which in 2018 was around EUR 97 per MWh on average.
With the completion of this deal, ERG now has 272 MW of onshore wind installed capacity in Germany, the firm noted.
(EUR 1 = USD 1.116)