Backed by Crestline Investors, Ferd and ARB Investment Partners, NeXtWind has launched a strategy under which it will acquire and revamp older wind farms in Germany.
NeXtWind will either repower or conduct lifetime extension work on the acquired assets, with the goal of transforming a portfolio of more than 1 gigawatt of wind parks that have reached the end of their regulatory life.
With the initiative, NeXtWind is aiming to become Europe’s next major green independent power producer, according to several news reports.
“The older wind sites tend to have the best locations but the worst efficiencies,” said Ewald Woste, CEO of NeXtWind. “We’ve assembled the expertise and funding to ensure that these sites are not lost to a diminishing baseline of clean power.
“With Germany phasing out coal and nuclear generation, this is important work,” he added.
With an active M&A pipeline already in place, NeXtWind expects to complete the acquisi