Austrian utility Verbund AG (VIE:VER) unveiled the acquisition of a portfolio of German wind power assets with a combined capacity of 56.4 MW from a fund owned by sustainability-focused investor Impax Asset Management Group Plc (LON:IPX).
The portfolio comprises 38.4 MW of five wind parks that are already operational and one 18-MW project that will be acquired upon its commissioning, which is expected to occur in the third quarter of 2024. The sites are spread across the federal states of Hesse, North Rhine-Westphalia, and Lower Saxony, according to a statement released today.
The operational sites are situated in Oedelum, Quelkhorn, Mariengarten, Munster and Frielendorf Sud, while the project is in Feldatal. All facilities are subject to the German government’s EEG regime and will benefit from a feed-in tariff for 20 years.
The latest investment is aimed at advancing Verbund’s 2030 strategy that aims for 20% to 25% of its total electricity to be produced from solar and onshore wind power.