MVV Energie expands renewable energies involvement
Mannheim energy company takes over Hanover wind project developer Windwärts - Full value chain coverage as USP in German energy market
With its takeover of Hanover-based wind project developer Windwärts, the Mannheim energy company MVV Energie is further expanding its involvement in renewable energies. As announced by the company after a meeting of its Supervisory Board on Thursday, the takeover will occur as of 1 October 2014. The companies have not made any disclosures concerning the purchase price. The future managing directors will be company founder Lothar Schulze and Björn Wenzlaff, who is also managing director of MVV Windenergie GmbH.
According to Dr. Georg Müller, CEO of MVV Energie, this new partnership will give the Mannheim-based group of companies a unique selling point in the future energy market: "We will thus cover the entire renewable energies value chain as well – from project development via plant operation through to electricity marketing. At the same time, we are linking renewable and conventional energies as key pillars of the future energy system, and that under one roof." This way, the company was creating a basis for implementing the energy turn-around in a cost-effective, targeted manner.
Founded in 1994, Windwärts has since planned and built a total of 144 wind turbines and 40 photovoltaics systems with total capacity of around 300 MW. The company has been insolvent since May 2014, having previously suffered setbacks due to delays with current wind power projects and start-up costs in international markets. A far-reaching restructuring programme was therefore launched at the end of 2013 already. This involved staff cuts, as well as discontinuing the photovoltaics business field and project development in Italy. Windwärts currently has just over 90 employees.
"Once restructuring is successfully complete, Windwärts will be an ideal partner for us in boosting our leading role in converting the energy system and participating in renewable energies growth," commented MVV boss Dr. Müller. This way, MVV Energie would be strengthening its own project development in the field of renewable energies.
As one of the leading project developers in Lower Saxony, Windwärts would complement MVV Energie's own activities, which mainly focus on southern Germany, by contributing great expertise and attractive locations and projects. Windwärts was thus set to play a key role in expanding the wind power business within the MVV Energie Group.
Windwärts' liquidator, Prof. Dr. Volker Römermann, sees the strong partnership with MVV Energie as offering a sustainable, safe perspective for Windwärts as well given the changing situation in the renewable energies market. "MVV Energie's corporate strategy convinced me that I would be placing the expertise offered by Windwärts' staff into good hands."
