Momentum Energy Group acquires portfolio of 88 Danish wind turbines
Momentum Energy Invest ApS (Momentum), a company in the Momentum Energy Group A/S, has entered into agreement about acquiring GPP Vind and the company’s portfolio of 19 Danish wind farms with a total of 88 wind turbines.
Best known are the turbines in Hanstholm Harbour. These were built in 2018 and are of the type, Vestas V136. The remaining 85 wind turbines have an average age of about 20 years and are located in 18 wind farms throughout Jutland. Turbine types, among others, including NEG Micon, Vestas, Nordex and Nortank.
Together, all wind farms are placed with attractive wind conditions and with the current types of turbines, produce around 160,000 MWh per normal wind year. This equivalents approximately 100,000 Danes’ annual electricity consumption.
The rationale behind Momentum’s investment is to participate in the green energy transition by applying the considerable experience and insight, that the company has built up through cost-effective asset management of older wind turbines with a productivity-enhancing perspective in mind.
The Danish Energy Agency (Energistyrelsen) has published an analysis of Danish wind turbines this year. The analysis supports that Danish wind turbines, if properly maintained, can be operated for 40-50 years. The compulsory decommissioning age of a wind turbine, previously legally defined as 30 years, has been extended until its 40th commissioning anniversary.
The acquisition of GPP Vind ensures Momentum access to a significant number of turbines that can be used as basis for the development of a scalable platform focusing on improving the lifetime expectancy of wind turbines in Denmark.
Momentum sees great potential in exploiting the potential in these, and many other older, wind turbines in Denmark. The company has an in-depth knowledge of the acquired turbines as its subsidiary, Momentum Gruppen A/S, has managed the technical operation of the turbines since 2015.
The parties do not wish to publish the portfolio purchase price, but Momentum CEO, Kim Madsen, says about the acquisition: