Eurowind, Wind Estate set up EUR-400m wind JV in Denmark

Danish renewables developer-operator Eurowind Energy A/S and its compatriot Wind Estate have set up a new company which will operate 186.3 MW of wind parks in their home country.

The value of the transaction stands at more than DKK 3 billion (USD 447m/EUR 402m), Eurowind Energy said on Wednesday without providing specific details. Under the arrangement, the company said it is due to receive an unspecified amount from its partner as it will contribute 136.5 MW of the target capacity.

Eurowind Energy and Wind Estate will each hold 50% of the newly-created entity’s stock. The joint venture, dubbed K/S Blue Holding, will operate Eurowind Energy's 96.9 MW and Wind Estate's 49.8 MW of the Overgaard wind farm, which with a capacity of 146.7 MW is touted as the largest facility of its kind in Denmark.

The company’s portfolio will also include 11 Vestas turbines of 39.6 MW in total at Eurowind Energy's Norre Okse So park.

“The collaboration opens up opportunities that neither of us could achieve alone,” said Ane Mette Lysbech-Kleis, CEO of Wind Estate.

According to the statement, the collaboration will provide the two firms with several new opportunities, including potential development initiatives in the Overgaard area, within both solar and wind energy.

(DKK 1.0 = USD 0.149/EUR 0.134)

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