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Encavis sells minority stake in wind energy portfolio in Austria

Encavis AG is parting with a minority share of its wind farm portfolio in Austria with a total output of 36.2 megawatts. The wind and solar park operator sells 49 percent of the shares to the largest regional Austrian energy supplier, WIEN ENERGIE GmbH. The hamburger did not provide any specific information on the financial details of the sale on Monday.

“We are pleased that with this transaction, which was concluded in competition with a very large number of different bidders, we can once again provide evidence of the intrinsic value of our existing portfolio. Our selective acquisition as well as the technical and commercial optimization of our parks create considerable value – as this example repeatedly shows. This proof of value, which is already included in our forecast key figures for this year, once again confirms that our 2020 guidance has been achieved, ”said Christoph Husmann, CFO of Encavis AG.

The sale of minority shares of up to 49 percent in selected wind farms to institutional investors or energy suppliers is part of Encavis’ strategy. One of the goals is to release cash reserves and make book profits.

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