WOLFSCHLUGEN, Germany – Tuesday, July 10th 2012 [ME NewsWire]
(BUSINESS WIRE)– Within a very short period of time, Windreich AG and Swisspower Renewables AG have closed the deal for the sale of the largest windfarm in Bavaria.
The sale was closed already last Thursday. Notarization took place last Monday-only three days before. “The teams of Swisspower and Windreich performed top-notch work and prepared the transaction excellently”, Chairman of the Board of Windreich AG, Dipl. Wirt- Ing. (FH) Willi Balz, Professional Industrial Engineer, stressed. Our projects are running with the precision of Swiss clockwork”.
When the project financing costs are subtracted Windreich AG gained a liquidity surplus of 14 million Euros from the sale. The windfarm, situated in the Upper-Franconian district of Hof, operates a total of eight windpower units of the type Enercon E-82 with an output of 2.3 megawatts each. The purchase contract which now takes force comprises seven windpower units with a total output of 16.1 megawatts. The first unit was already acquired by Daimler AG in April for the CO2-free “filling up” of the first 2,500 smart fortwo electric drives.
Overall, Swiss enterprises and private entities have already invested over 250 million Euros in projects of Windreich AG. This undisputedly makes Windreich Number One with regard to investments from the neighboring country in German onshore and offshore windfarms. “Regional proximity and the favorable exchange rate of the Swiss Franc as well as the extensive experience of Windreich AG and the prospect of sustainable reliable power output from German on-and offshore windfarms are the reason for this”, states the Head of the newly founded Windreich-sales subsidiary in Baar/Switzerland, Mr. Hans Peter Stöckl.
About Windreich AG
Founded in 1999 by Dipl.-Wirt.-Ing. (FH) Willi Balz, Professional Industrial Engineer, Windreich AG, domiciled in Wolfschlugen, has company shares in the on-and offshore windfarms sector. Windreich AG has an experienced staff of over 130 and is today one of the most successful windpower enterprises in Germany with already over 1,000 windpower units that have been financed constructed or managed. The Top Ten of the best offshore windfarms in Germany include three windfarms of Windreich AG. This includes the award-winning project of 2011 Global Tech I with 400 MW output in first place. Global Tech I received 1.047 billion Euros for project financing from 16 banks, inter alia the European Investment Bank and the KfW. Before this, Willi Balz had provided 800 million in equity from only six renowned South German investors. All approved offshore projects have network connection confirmations and are thus in line with the plan. With an output of ca. 8.4 GW, additional 20 projects were secured in the German North Sea. In this way Windreich is significantly contributing to the energy revolution in Germany and will in future be able to supply nearly 20 million people through windpower without CO2 emissions. Since 2010/2011 Windreich AG has also been represented on the capital market with two bonds. The 6.5% bond 2010/2015 (WKN A1CRMQ7) and the 6.5% bond 2011/2016 (WKN A1H3V3) are listed in the trading segment Bonds at the Stuttgart Stock Exchange.
About Swisspower Renewables
The investment company Swisspower Renewables AG is an independent company within the Swisspower network. It was founded in December 2011 by the Stadtwerke IBAarau AG, Services Industriels de Genève, Energie Wasser Bern, Energie Thun AG, Technische Betriebe Weinfelden AG and StWZ Energie AG Zofingen. Over the next several months additional public utility companies will invest in Swisspower Renewables AG. The company offers the public utility companies as shareholders the opportunity of gradually expanding their power production from renewable energies. Swisspower Renewables AG is currently focusing on onshore windpower as well as hydropower in the European territory. The goal is to establish a portfolio of power production from renewable energy of 700 million Kilowatt hours per year within the next five years.
Jeanette Mack, +49 7022 95 30 60
Alfred Bürkler, +41 44 253 82 15
Swisspower Netzwerk AG