Acquisition of OX2’s German Operations
Momentum is expanding further in Germany. Through Momentum Energy Group ApS, Momentum has acquired OX2 Wind GmbH in Hamburg, which carries out green field development of wind projects in Germany.
The date of transition is set to April 1 2020. All 7 employees are offered continued employment at Momentum.
With a strong focus on repowering and sourcing of new projects to our customers, local presence and knowledge is paramount.
In connection with the acquisition of OX’s activities in Germany, Momentum acquires 3 ongoing projects at various development stages. Momentum has been present in the German market for + 15 years conducting asset management and repowering of several wind- and PV plants in Germany. When OX2 decided to sell their activities in Germany, the opportunity to expand the value chain further arose.
Momentum now offers the full value chain from development of projects to technical, operational and commercial asset management as well as life-time extension, repowering and dismantling of wind and PV assets, in Denmark, Sweden and now also in Germany.
"We have been working closely with OX2 for some time, and formed at partnership just last December 2019 about repowering of wind projects (link). We are therefore very pleased to expand our activities in Germany with a development platform and an existing pipeline of projects under development. This opens new exciting opportunities in the German market and we can continue to expand our suite of services to Danish and international clients with green assets in Europe."
”Momentum is our existing partner in the German market and we are happy that they will continue the development of the projects”
Expanding Our Presence
With the acquisition of OX2 Wind GmbH, Momentum now has offices in both Hamburg and Flensburg.
The subsidiary in Flensburg is handling the technical – and commercial management in the German market and currently has 5 employees. This will be expanded shortly with 3 more to a total of 8 employees.
The office in Hamburg will be handling all green field and repowering projects in Germany and is expected to have a team of 10, all involved in project development.
Together they form a strong presence for Momentum in the German market.
“Even though new wind business in Germany is declining, we are able to record exciting new business activities. Especially, the segment of institutional and professional investors is an exciting segment, which demand our services more and more. With the acquisition of OX2 Wind GmbH we are able to assist our clients even more in the future. “
For more information or questions, please contact CEO Kim Madsen, kim@momentum-gruppen.com or +45 46 33 70 10.
If you have any questions regarding technical management, inspections and other services, please contact Christian Hammerthaler, hammerthaler@momentum-gruppen.com or +49 (0) 461-97886633.
For questions about buying and selling projects, please contact Christian Liebel, christian@momentum-gruppen.com or +49 (0) 175 5897 947.
