Germany's Juwi, Windwaerts fuse to form new renewables entity
German renewables developer Juwi announced that it has joined forces with Hanover-based peer Windwaerts Energie to create a company under one name and brand -- JUWI.
Both developers are part of German regional power provider MVV Energie AG (ETR:MVV1), and will continue to operate under its umbrella.
The new entity is described as a project development and operations management company. It has been registered as JUWI GmbH, a private limited company, scrapping previous organisational form juwi AG - a joint stock company.
There will be no changes in the shareholding structure or in the company’s strategy, reads the announcement.
As JUWI, the combined company will seek to push the renewables deployment in Germany and in selected markets in other countries.
“As a result of the EU Green Deal and the new climate neutrality targets set by politicians in Germany and many key international markets, the conditions for renewable energies have further improved over the past few months,” said Carsten Bovenschen, Chairman of the Management Board of JUWI GmbH. “JUWI is a company with outstanding prospects that will play a pioneering role in the upcoming energy transition”.
JUWI has built over 2.8 GW of wind power projects globally, and installed some 3.25 GW of solar PV farms. Its operations teams run more than 4.1 GW of wind and solar farms, according to the press release.
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