Q-Energy acquires 16 wind parks in Germany from MEAG
Q-Energy, a global investment and management company in renewable energy, has acquired 16 German wind parks from MEAG, acting in its capacity as Munich Re’s global asset manager.
The portfolio consists of 56 turbines in the northern part of Germany with an installed capacity of 109 MW. The turbines have been in operation for 11 years on average.
The investment has been made from Q-Energy’s fourth fund, Q-Energy IV, which recently reached a EUR1.1 billion final close. The investment strategy of Q-Energy IV is a continuation of the strategy already proven in previous funds, though this time also expanding its geographical reach. Q-Energy IV focuses on developing new renewables plants, the repowering and modernisation of assets at the end of their useful life, as well as on securing the operational and financial optimisation of large plants in countries within the European Union. Additionally, the Fund undertakes other investments related to the energy transition such as energy storage, grid network management, hydrogen production and biofuels.
Close to 60 per cent of Q-Energy IV has already been invested or committed to wind, solar photovoltaic (PV) or concentrated solar projects (CSP) projects, located in Germany, Poland, Italy and Spain. As of today, the Fund owns an aggregate of more than 500 MW capacity in operational assets, in addition to a portfolio of assets under development of more than 8GW. As such, the Management team expects the Fund to be fully invested by the end of 2022.
Iñigo Olaguibel, founding partner of Q-Energy, says: “This acquisition underlines our commitment to our repowering strategy in Germany and demonstrates our ability to execute large-scale transactions with renowned institutions like MEAG professionally and quickly. Germany will continue to be a key renewables market going forward, taking a leading role in decarbonising the European economy.”
Niklas Hinz, Head of Investments Q-Energy Germany, says: “These wind parks are an excellent addition to our wind power portfolio that we will be repowering with our local team in Germany. We continually work on identifying new investment opportunities and are proud of our comprehensive project pipeline in implementation.”
Holger Kerzel, Global Head of Illiquid Assets at MEAG, says: “We are pleased to have found an investor in Q-Energy who will repower and operate the wind farms in the future. This transaction follows the strategy of further optimising our portfolio and leveraging earnings potential. We will further expand our investments in infrastructure projects such as wind farms and solar parks in the coming years, placing particular emphasis on regional and segment diversification. The intention is to reinvest the funds generated in infrastructure."