Karlsruhe-headquartered energy company EnBW Energie Baden-Württemberg AG has reached an agreement to acquire the Denmark-based wind turbine service and maintenance provider, Connected Wind Services A/S (CWS).
EnBW expects to reach new customers in the Nordics and Germany through the acquisition of CWS, and establish itself as a full-service provider for the planning, construction, operation, maintenance and service of wind farms.
The transaction documentation was signed on 2 August with Polaris Private Equity, the majority shareholder of CWS. The contractual partners have agreed not to disclose the purchase price.
The acquisition is subject to the approval of the Federal Cartel Office. The process for examining the acquisition is due to take place in the next few weeks and the transaction is expected to be completed in the fourth quarter of 2016.
CWS has local service teams in Denmark, Sweden and Germany. The company will remain an independent brand.
“We are making good progress in the expansion of our renewable energies with 336 megawatts of offshore capacity in operation, more than 1,600 megawatts of approved offshore capacity and a secured onshore pipeline of around 1,100 megawatts,” said EnBW CTO Hans-Josef Zimmer.
”We have been successfully planning, constructing and operating wind farms for many years. By acquiring CWS we are now expanding this range of services to include maintenance and servicing because we want to grow further – and faster. CWS opens up the possibility for us to also play an active role in new markets.”