WPO Takes Over Asset Management Operations from Kaiserwetter
Paris, France - The German, Danish and Spanish operations of Kaiserwetter Energy Asset Management GmbH, including the Spanish Kaiserwetter subsidiary, will be taken over by the renewable energy asset management service provider WPO.
Transaction to be completed by the end of Februarya
The sale-purchase agreement was notarised on 8 February 2021. Financial completion is expected by the end of February 2021. According to WPO, a key commitment for all parties will be the uninterrupted continuance of the exiting Kaiserwetter service contracts which will continue to be managed by the same expert team using the same ERP systems who will now have the added support of the entire WPO Group.
The acquisition adds more than 500 MW to WPO's existing 5 GW portfolio (5,000 megawatts - MW) of serviced wind and solar assets and brings WPO’s staff count to 100 dedicated and expert personnel. From WPO's perspective, this move is an ideal fit fort the company's current European serviced portfolio.
"We are very pleased that our services business provides such a good fit within WPO’s European operations and our team will now have the opportunity to work within such a well-respected international player in the renewables market-place", said Dietrich Norbert Pals, Global Head of Asset Management at Kaiserwetter, on the acquisition by WPO. "This is another key milestone in the successful growth of WPO and we are delighted to welcome the Kaiserwetter team on board. The merger of our operations brings our business to the heart of two major European markets, Germany and Spain", added WPO CEO Barthélémy Rouer.
Kaiserwetter: opening of insolvency proceedings at the beginning of February
Kaiserwetter was founded in 2012 and is based in Hamburg, Madrid and New York. Kaiserwetter is an IntelliTech company in the renewable energy industry. Kaiserwetter's solutions and services are considered world-leading for renewable investors and owners. Backed by years of asset management experience, Kaiserwetter leverages the power of the Internet of Things (IoT) and artificial intelligence (AI) to optimize client investments.
Against Kaiserwetter Energy Asset Management GmbH insolvency proceedings were opened on Feb. 1, 2021. Hamburg-based lawyer Dr. Matthias Wolgast was appointed as insolvency administrator.
About WPO SAS
The renewable energy asset management service provider WPO was founded in 2008. The company oversees 600 production sites in 13 European countries with a capacity of more than 5,000 MW, including 2,000 wind turbines and 12 million photovoltaic modules. In Germany, WPO currently manages 485 MW of wind turbines. WPO's business units have recently added hydropower and energy storage. The company offers technical, commercial and financial management solutions and counts more than 360 companies among its clients, including investment funds, insurers, reinsurers, banks and independent power producers.
Source: IWR Online, 01 Mar 2021