German Financial Services Provider ALH Group Acquires 16 Solar Farms From EnBW

Germany-headquartered financial services provider, Alte Leipziger Hallesche (ALH Group) has revealed that it is indirectly acquiring 49.9% of a portfolio of sixteen solar farms with a combined capacity of 597 MW belonging to Energie Baden-Wurttemberg AG (EnBW).

As per the agreement, Weesow, Gottesgabe, and Alttrebbin solar projects are also part of the portfolio. The company claims that these were Germany’s first large-scale solar farms to be built without government assistance.

According to the company, all of the solar farms, which are found in the German states of Brandenburg, Baden-Württemberg, Bavaria, Mecklenburg-Western Pomerania, Rhineland-Palatinate, and Saxony, were designed and constructed by EnBW, and a majority of them were only recently wired into the grid.

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Apart from this, EnBW has shared that it will continue to run the solar farms, provide their services, and maintain them, as well as market the clean energy they produce. With an average yearly output of 580 gigawatt-hours, it can supply Germany’s energy requirements for more than 200,000 three-person households.

Thomas Kusterer, CFO of EnBW, said, “EnBW’s commercial strategy for renewable energy includes the sale of minority holdings based on investment models. The sale earnings will be used to fund brand-new expansion initiatives in the grids and renewable energy sectors. This is more crucial than ever because every megawatt-hour generated by renewable sources reduces Germany’s reliance on fossil fuels.”

Martin Rohm, Chief Investment and Finance Officer of the ALH Group (Alte Leipziger) stated “The investment is a significant step toward our objective of significantly increasing the sustainability of our investing activities. The ALH Group’s chief investment and financial officer. This partnership in renewable energy is the perfect addition to the company’s current portfolio of onshore and offshore wind farms.”

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Last June (2022), EnBW purchased 800 MW of solar projects from Procon Solar in Brandenburg. EnBW and bp received a lease option in January to build the massive offshore wind farm Morven off the east coast of Scotland. To satisfy the energy requirements of more than three million homes, they would be able to create a fixed-bottom offshore wind project with a total capacity of roughly 2.9 GW thanks to the lease.