ENOVA FOUNDS INVESTMENT COMPANY FOR THE PURCHASE OF OLD WIND FARMS
First reference project of Enova Value: 25-megawatt wind farm in NRW
Bunderhee, 12.08.2021 With ENOVA Value, the ENOVA group has founded a new company that focuses on the purchase and value enhancement of old wind turbines. Together with shareholders, land owners, municipalities and other stakeholders, the new company develops individual solutions to enable economic continued operation or successful repowering. The company started its activities with the acquisition of a 25-megawatt wind farm in the Heinsberg district (NRW), which is to be repowered by 2025. ENOVA is currently in negotiations for further projects with the aim of acquiring around 100 MW of old wind farms by the end of 2022.
In Heinsberg, 14 Enercon E-66 turbines have been generating a yield of almost 40,000 MWh per year since 2004. Together with its local partners – the Frauenrath Group and BMR energy solutions GmbH – ENOVA now wants to replace the Enercon turbines with seven Nordex N-163 turbines, each with a capacity of 5.7 megawatts and a total height of 200 metres. The repowering should more than double the yield to 92,000 MWh per year with half the number of turbines.
“With our concept, which is aimed at both potential sellers and cooperation partners, we want to deliver solutions especially for the approximately 1,600 wind turbines that will fall out of the EEG every year from 2021,” explains ENOVA Managing Director Hauke Brümmer.
As an experienced project developer, wind farm manager, operator and service provider, the group of companies brings many years of know-how in the planning, operation, maintenance and financing of wind turbines. While project development takes care of successful repowering, technical and commercial management ensures continued operation and optimises yields and costs. ENOVA Service, on the other hand, ensures cost-effective maintenance that is optimally tailored to the age and expected service life of the turbines. The Investment & Asset Management division structures the equity and debt side.
“Thanks to our focus on older wind farms, we are in a position to make needs-based and very attractive offers to owners, operators and asset managers of Ü15 wind turbines and to take over their continued operation and dismantling risks,” says Brümmer happily.
The ENOVA group of companies, with its headquarters in East Frisia and a branch office in Hamburg, has been developing, realising and managing wind farms in Germany since 1989. The range of services offered by the 40-strong family business extends from the initial project idea, including realisation, through wind farm management and service, to repowering.
All competences flow together in one life cycle through four business areas of the group of companies. The foundation is Project Development & Planning (EPC), which to date can point to 250 MW of successfully realised onshore projects and 1,500 MW of approved offshore projects.
This is complemented by technical and commercial management (TCM), which currently manages around 400 MW for its own and external wind farms across Germany and has launched a data-based asset management software product called e.live.
Another important component is the technical maintenance and servicing (ISP) of ENOVA Service. As an independent service provider and specialist for Enercon wind turbines, around 170 turbines ranging from an Enercon E-40 to an E-92 are currently under contract.
In addition to ENOVA Value, Investment & Asset Management (IAM) also manages ENOVA IPP, in which ENOVA holds its own portfolio. In the last four years, around 20 projects have been successfully acquired and further developed.