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Reported by Energiekontor on 8 November 2018

Energiekontor sells Bremen-Hemelingen wind farm

Bremen-based project developer completes planned project divestment

Wind farm in autumn (Courtesy of Energiekontor AG)

Energiekontor AG has sold the Bremen-Hemelingen wind farm to a Luxembourg investment firm that invests on behalf of several German insurance companies and pension funds. The Bremen-Hemelingen wind farm, which went into operation in July of this year, is located in the immediate vicinity of the Hansalinie business park on the A1 motorway. At the site, four Siemens wind turbines with a rotor diameter of 113 metres and total rated power of 12.8 megawatts generate an expected annual yield of around 30 million kilowatt hours. In theory, this would suffice to cover the needs of more than 8,000 households.

As the planning permission for this wind farm was granted before the end of 2016, the electricity produced at this location is remunerated at the attractive conditions of the old tariff system pursuant to the transitional provisions of the EEG 2017.

Peter Szabo, CEO of Energiekontor AG, expresses his satisfaction with the transaction: “The sale of the Hemelingen wind farm went according to plan and represents an important contribution to our net income for the year.” With regard to the latest auction results for onshore wind in Germany in October 2018, Szabo adds: “The dramatic undersubscription in the latest onshore wind auction this year illustrates the extent to which the special regulations for citizens’ energy initiatives applicable in 2017 still have an impact in 2018 and 2019. Following the massive drop in prices in the course of last year, Energiekontor was apparently not the only company that decided to redesign many projects in order to participate in future auctions with optimised parameters and thus secure the expected returns. These projects that had originally already been approved are now missing in the current auction rounds. On the other hand, this development naturally leads to a faster alignment of the levelized cost of electricity of wind farms and solar parks with that of conventional power plants. It continues to be our goal to give renewable energy sources a fresh boost by achieving a lower levelized cost of electricity in our projects than coal-fired and nuclear power plants.”

References

[1]

Energiekontor AG. Press release - Energiekontor sells Bremen-Hemelingen wind farm. URL: https://www.energiekontor.de/en/news/energiekontor-sells-bremen-hemelingen-wind-.... [Date Accessed: 08/11/2018].

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