Wind park divested in the Netherlands by European Energy to a local Dutch company.
- European Energy has divested a portfolio of 12 wind turbines in Waadhoeke, the Netherlands, to local Dutch company Westra as part of its active portfolio management strategy.
- The transaction enables European Energy to recycle capital into the development, construction and operation of new renewable energy projects across its growing European pipeline.
- European Energy acquired the wind turbines in 2021 and has managed and operated the assets since then, while working to enhance their long-term value before completing the divestment.
European Energy has completed the divestment of a portfolio of 12 wind turbines in the municipality of Waadhoeke, the Netherlands, to Dutch company Westra.
The transaction forms part of European Energy’s strategy to actively manage its portfolio of renewable energy assets and recycle capital into the development, construction, and operation of new renewable energy projects. The divestment enables the company to redeploy capital towards its growing pipeline across Europe.
European Energy acquired the wind turbines in 2021 and has since managed and operated the assets while progressing opportunities to enhance their long-term value.
'Active portfolio management is a core element of our business model and growth strategy,' says Daniel Axelsen, Interim Country Manager for the Netherlands at European Energy.
'We develop, optimise and operate renewable energy assets throughout their lifecycle. As assets mature, we continuously evaluate opportunities to realise value and recycle capital into new projects in European Energy. This transaction reflects that approach and allows us to continue expanding our development activities across our markets while in this case ensuring the assets remain in local ownership.'
The buyer, Westra, is a Friesland-based company with activities spanning infrastructure projects, earthmoving and green maintenance. Headquartered in the municipality of Waadhoeke, the company is located close to the wind turbines included in the transaction.
The acquisition expands Westra’s renewable energy activities and supports the company’s ongoing efforts in relation to the local electrification.
'This acquisition marks an important step in strengthening our renewable energy activities and in realising our ambition to operate fully emission-free by 2030. For us, local ownership is key: we believe energy projects should be rooted in the communities they serve. By taking over these assets, we ensure that both value and responsibility remain in the region while continuing to build a sustainable energy future in Friesland,' Pieter Westra, Managing Director in Westra.
The transaction reflects continued demand for operating renewable energy assets in the Netherlands from strategic and local investors.
The 12 wind turbines totals 6 MW.
Ploum acted as legal adviser to European Energy in connection with the transaction.
Source: European Energy
