Sale of German Wind Project After Complicated Negotiations
At the same time, Momentum takes over asset management of the whole wind park of 26 MW consisting of 13 Vestas 2.0 MW wind turbines.
After nearly a year of complicated negotiations with Momentum as the facilitator, we have succeeded in collecting a group of independent Danish owners, in a 26 MW wind park in Germany with the aim to conduct a collective sale of their wind turbines to a new buyer.
The buyer, as it turns out, is one of Momentum’s close business partners – a German/Spanish private equity fund.
“The transaction sets a new stand for how we can help Danish owners of foreign wind turbine projects to get a much better price for their assets in a wind park, than if they had negotiated the terms themselves. One of the reasons are the great synergies that can be obtained by joining forces in a collective ownership. Moreover, it proofs that we, together with professional buyers, are able to manage such a complex transaction with diverse interests and views that need to be handled individually to reach an agreement. My colleagues have done a truly magnificent job in this project, and it shows me, that we are able to handle both buyers and seller’s interests as a facilitator, without creating a conflict. I am not saying that it has been without any issues or hiccups along the way, on the contrary, but we are proud that we reached such a good agreement for all parties involved."
As of 1 January, Momentum Gruppen A/S’s subsidiary in Germany, Momentum Deutschland GmbH takes over the technical and financial management in an agreement running until 2028.
The deal ended an extremely successful year 2019 for the whole Momentum Group, and we expect to have similar transactions in the near future that will benefit both buyers and sellers of clean energy solution assets.
