With a transaction exceeding DKK 3bn (EUR 402m), Denmark’s two largest wind developers Wind Estate and Eurowind Energy have agreed to form a joint company with 186.3MW capacity in operation and Denmark’s largest wind park in the portfolio. The jointly owned company, K/S Blue Holding, will be owned 50% by Wind Estate and 50% by Eurowind Energy, and the transaction is targeting closing later this year.
Eurowind Energy contributes to the new company with 28 turbines at the Overgaard Wind Park near Randers (96.9MW) and 11 turbines at Nørre Økse Sø Wind Park near Brovst (39.6MW), while Wind Estate contributes with 16 turbines at Overgaard (49.8MW). Additionally, Wind Estate will pay a sum to Eurowind Energy.
The total capacity of the Overgaard Wind Park, at 146.7MW, makes it Denmark’s largest onshore park, nearly twice the size of the second largest park.
Wind Estate is one of the largest wind developers and operators in Denmark. Wind Estate owns and operates more than 400 wind turbines in Denmark and is also significantly involved in project development in Denmark and the United Kingdom. Wind Estate was formed in 2001 and is active in onshore wind, offshore wind, solar, hydrogen and battery solutions.
Eurowind Energy specialises in developing, building and operating renewable energy parks and has activities within onshore wind, solar, hydrogen, biogas, power-to-heat and battery solutions. Eurowind Energy was formed in 2006 and has since grown to be a significant player in the renewable energy sector with more than 600 employees and operations in 16 markets in Europe and the USA.
The partnership provides several new opportunities, including the potential to collaborate on further development in the Overgaard area, within both solar and wind energy.
Accura advised Wind Estate in connection with the transaction.