Capital Stage, the SDAX-listed solar and wind park operator based in Hamburg, has acquired an onshore coastal wind park near Bremerhaven, Germany, with a generation capacity of 38.5 MW. The company thereby increases its generation capacity in the wind power sector by over a third, taking it to more than 100 MW.
The park was sold to Capital Stage by Energiekontor AG based in Bremen, Germany. The full purchase price is due upon the commissioning of the wind park.
Dr Klaus-Dieter Maubach, CEO of Capital Stage AG, stated:
"By acquiring this German onshore coastal wind park, we are increasing the share of wind energy in our existing portfolio as planned. In addition to an attractive yield the newly acquired wind park further contributes to the diversification of our existing portfolio. However, we also intend to keep the proportion of wind energy in the total portfolio to a maximum of around a quarter."
The wind park has a generation capacity of 38.5 MW and is located near Bremerhaven in Lower Saxony, Germany. The wind park is set to consist of fourteen GE 2.75 series wind turbines produced by the US manufacturer General Electric. The wind park is currently in its deployment phase and is expected to be completed and running by the end of November 2015. The total investment volume, including debt, is about €70 million (US$74.5 million). Energiekontor will be responsible for the technical and commercial management of the project in the future.
Under the German Renewable Energy Act (EEG), the wind park benefits from a guaranteed feed-in tariff set at 8.90 euro-cents per kilowatt-hour (kWh) for a period of 20 years. The German wind park is therefore expected to make revenue contributions of almost €8 million from its first full year of operation.