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Germany's EnBW formally exits EWE

The Riffgat offshore wind park in German waters. Source: EWE AG

June 4 (Renewables Now) - German utility EnBW Energie Baden-Wuerttemberg AG (ETR:EBK) has divested its remaining 6% stake in energy and telecommunications group EWE AG, whose renewables arm builds and operates wind farms.

EnBW said in a statement on Monday that the municipal shareholders of EWE, together forming the EWE-Verband, had made use of an option to acquire the remaining minority stake. That option was agreed in the autumn of 2015 between the three parties as part of a restructuring of their shareholdings. At that time, EnBW still held a 26% stake in EWE.

In return for exiting EWE, EnBW has received a 74.2% interest in Verbundnetz Gas AG in Leipzig.

In 2018, EWE’s Renewables business area increased its power generation capacity to 338.1 MW from 332 MW a year earlier, according to the company’s annual financial report. EWE is the owner of the 113.4-MW Riffgat offshore wind farm in the North Sea.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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