HOCHTIEF Offshore Development Solutions acquires four North Sea wind farms from Enova
20 March 2012
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As a result, the company is developing a total of five wind farms in the German Exclusive Economic Zone
HOCHTIEF Offshore Development Solutions has acquired the four offshore wind farms, North Sea Windpower 4-7 (NSWP 4-7), from the project developer Enova for an undisclosed purchase price. The joint venture founded by HOCHTIEF Solutions and Ventizz Capital Partners (50:50 share) is thus developing a total of five offshore wind farms in the German Exclusive Economic Zone (AWZ). In the founding phase of the company, Ventizz had already brought the wind farm Nautilus II into the partnership.
Willi Mannheims, General Partner of Ventizz said: “This transaction gives the joint venture a significant boost. Taken together, HOCHTIEF Offshore Development Solutions now manages an offshore wind portfolio of approximately two gigawatts.”
The offshore wind farms NSWP 4-7 are located between 160 and 200 kilometers from the island of Borkum and stretch across an area of more than 300 square kilometers. HOCHTIEF Offshore Development Solutions intends to optimize the projects in the early planning stage, including the development of appropriate structures which reduce the risks for additional costs and delays in the subsequent construction phase. The companies that will subsequently erect and operate the wind farms in the construction area will profit from this. The target customers for the marketing of offshore development projects are the energy producers such as large-scale supply companies and municipal suppliers, institutional or financial investors such as infrastructure funds and the increasing number of large industrial companies and insurance companies. HOCHTIEF Offshore Development Solutions plans to develop the projects together with Enova until receiving authorization from the Federal Maritime and Hydrographic Agency (BSH). The applications for authorization have already been submitted.
With the development of five offshore wind farms with a total power output of nearly two gigawatts, HOCHTIEF Offshore Development Solutions now supports the targeted expansion of the German offshore wind energy market and is providing a significant contribution for the energy revolution. In a very short period of time, the joint venture has established itself as one of the most significant developers for offshore wind projects in the North Sea.
Company profiles
About Hochtief Offshore Development Solutions
HOCHTIEF Offshore Development Solutions was founded in 2012 by HOCHTIEF Solutions and Ventizz Capital Partners. The joint venture (50:50) acquires licensing rights for offshore wind farms in an early stage of development, develops these further and realizes the project development before the beginning of construction. With its competence in project development and financial strength as well as the expertise of both partners in the offshore market, the company is preparing the subsequent erection of the wind farms in such a way that the risks for the clients and operators are reduced considerably. The company is currently developing a total of five wind farms (Nautilus II, North Sea Windpower 4-7) in the German Exclusive Economic Zone (AWZ).
About Ventizz Capital Partners
Ventizz Capital Partners was established in 2000 and has offices in St. Gallen, Zurich, Düsseldorf and Vienna. Ventizz Capital Partners is the exclusive advisor to the Ventizz Private Equity Funds, which provide growth capital and buyout financing for high tech companies in the German-speaking region and in Western Europe. Four partners and a team of 15 additional professionals currently advise four funds with a total capital under management of EUR 675m. Ventizz Capital Fund IV L.P. is the largest of four so far established funds. The Fund was closed at the end of 2007 after only six months of fundraising, during which EUR 450m were raised, making it one of the biggest private equity funds in the segment of growth capital and mid-size tech buyouts in the German-speaking region.
Ventizz Funds have to date invested in 41 companies with a focus on the areas of renewable energy/clean tech, high-tech manufacturing industries, medical technology and information and communication technology. In addition to a variety of trade sales, Ventizz has so far floated four portfolio companies (ersol, SAF, PV Crystalox Solar and recently exceet) at European stock exchange markets.
On the internet at: www.ventizz.com
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