Germany multinational energy company RWE has announced its plan to acquire a European onshore wind and solar development platform from Nordex SE.
The platform has a total pipeline of 2.7 GW in France, Spain, Sweden and Poland.
The announcement follows Nordex selecting RWE as an exclusive bidder for the acquisition of its European onshore wind and solar development business. The purchase price is about €400 million ($470 million).
Nordex has a strong focus in France, with an overall pipeline of 1.9 GW in various project phases.
The acquisition will expand RWE’s employees with an additional 70. The team join RWE Renewables, where the mostly France based team will develop further projects. The planned acquisition represents a strategic pipeline enhancement for RWE and adds to its existing 22 GW development pipeline.
Anja-Isabel Dotzenrath, the CEO of RWE Renewables, said: “France is one of the most attractive markets in Europe and characterised by ambitious renewable energy targets.
“We are looking forward to working together with the experienced team which comes with a strong track record in the development of renewables projects. The transaction leverages our growth ambitions in France in the fields of offshore and onshore wind as well as large solar plants and battery storage.”