Eurowind Energy A/S acquires SE Blue Renewables

Eurowind Energy A/S acquires SE Blue Renewables per December 31, 2019.

SE Blue Renewables was established in 2013 when PFA and SE (today a part of Norlys) bought DONG Energy's Danish onshore wind business.

SE Blue Renewables currently has 222 wind turbines in operation with a total capacity of 184 MW as well as the construction project Wind park Overgaard in Randers Municipality. The project consists of 26 new wind turbines (of which 12 existing wind turbines will be dismantled). In addition, the company has a number of development projects. The company's wind turbines in operation will form part of Eurowind Energy's current management portfolio, which currently amounts to approx. 1,100 MW wind and solar parks.

At Eurowind Energy A/S there is great satisfaction with the acquisition: “In connection with our merger with Eniig Renewables at the beginning of the year and Eniig's subsequent merger with SE, the opportunity arose to acquire SE Blue Renewables. With the acquisition, we can benefit from the synergies that a short-term and long-term merger will enable for both the acquired company and Eurowind Energy A/S, including optimizing the construction process for Wind park Overgaard and creating synergies with the existing portfolio”, says Jens Rasmussen, CEO of Eurowind Energy A/S.

Gert Vinther Jørgensen, who is CFO at Norlys, is very pleased that the transaction is finalized: “We see the pooling of activities in the area as a great strength and an opportunity to reap further synergies and economies of scale. At the same time, we have been very pleased with the process together with PFA and Eurowind Energy A/S, and we conclude that with the agreement we strengthen the overall portfolio and profitability of Eurowind Energy, which is ultimately to the benefit of Norlys' shareholders”.

With the acquisition of the SE Blue Renewables portfolio, the Eurowind Group's own owned portfolio is increased to approximately 600 MW in operation and 400 MW under construction or up and coming. The primary ambition of the Group's long-term strategy is to expand the ownership of MW and thus to build an energy group with production of energy from renewable energy sources. The Eurowind Group is thus a major step on the road to becoming a leading European developer and operator of renewable energy projects. In this connection, Eurowind Energy A/S looks forward to welcoming new, skilled employees from SE Blue Renewables to the Group.

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