I-ADVISE AG advises MVV Energie AG in the aquisition of Windwärts
With effective date 1 October 2014 MVV Energie acquired Hanover-based project developer Windwärts.
Through this transaction MVV Energie intends to further strengthen its position in the renewable energies market by covering the entire value chain from project development via plant operation through to electricity marketing. Subsequent to the transaction, Mannheim-based MVV Energie expects to be uniquely positioned in Germany´s renewable energy market.
Windwärts was founded in 1994. Since then the project developer for on-shore wind parks planned and built a total of 144 wind turbine projects. In the past operations were focused in Northern Germany. The takeover was influenced by company’s insolvency. Windwärts filed for insolvency in May 2014 after suffering liquidity constraints due to delays realising certain wind power projects.
Dr. Georg Müller, CEO of MVV Energie AG, commented: ‘’Once restructuring is successfully complete, Windwärts will be an ideal partner for us in boosting our leading role in converting the energy system and participating in renewable energies growth’’.
I-ADVISE supported MVV Energie together with its French cooperation partner 8Advisory, Paris, in the financial due diligence, in the valuation and the purchase price determination of Windwärts operations in Germany and France. Furthermore I-ADVISE assisted MVV Energie with the purchase agreement and the purchase price allocation (PPA).
I-ADVISE specialises in transaction advisory and valuation services. I-ADVISE is part of an international network of consulting firms, which, if necessary, can complement the project teams in cross border transactions and valuation projects.