MEAG sells 109 MW of German wind farms to Spain's Q-Energy

German asset manager MEAG announced on Monday that it has sold 109 MW of wind farms in Germany to Spanish renewables investor Q-Energy.

The portfolio consists of 16 wind farms, with a total of 56 turbines between them, located in the northern part of Germany. The turbines have been operating for 11 years on average, MEAG said.

Financial details of the transaction were not disclosed.

Q-Energy will repower and operate the wind farms going forward.

“These wind parks are an excellent addition to our wind power portfolio that we will be repowering with our local team in Germany. We continually work on identifying new investment opportunities and are proud of our comprehensive project pipeline in implementation,” Niklas Hinz, Head of Investments Q-Energy Germany, said in the statement.

“This transaction follows the strategy of further optimizing our portfolio and leveraging earnings potential. We will further expand our investments in infrastructure projects such as wind farms and solar parks in the coming years, placing particular emphasis on regional and segment diversification. The intention is to reinvest the funds generated in infrastructure," added Holger Kerzel, Global Head of Illiquid Assets at MEAG.

MEAG manages the assets of Munich Re and ERGO, both part of German insurance company Munich Re group.

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