German co 3U Holding buys 100 MW plus of wind projects

Aug 11, 2014 - Germany-based 3U Energy AG has acquired the company behind over 100 MW of German wind projects at various development stages for EUR 2 million (USD 2.7m) plus additional performance-based payments.

The buyer’s parent, German telephony, renewables and services firm 3U Holding AG (FRA:UUU), said in a statement on Friday that the acquisition of wind developer Aufwind & ORBIS Havelland GmbH & Co KG (A&O KG) is in line with its plan to speed up the expansion of its renewables business. The deal also includes associated partner Aufwind & ORBIS Havelland Verwaltungs-GmbH.

A&O KG’s project portfolio comprises several wind farms of up to 40 turbines in total and a capacity surpassing 100 MW. These are to be put online between 2015 and 2017. 3U Energy expects proceeds from the sale of its first wind farm in the next 12 months.

Brandenburg-focused A&O KG is a joint venture of wind project developers Aufwind Engineering GmbH and ORBIS Energie- und Umwelttechnik GmbH.

(EUR 1 = USD 1.339)

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