Momentum advises oekostrom AG on the acquisition of four wind farms from reconcept Group
Munich, September 2024: Momentum is advising oekostrom AG on the purchase of four wind farms from reconcept Group in Germany. With this acquisition, oekostrom AG is consistently advancing its growth strategy and expanding its capabilities in the wind energy sector.
With the successful transaction, oekostrom AG is acquiring 100% of the shares in the four wind farms of reconcept Group. Since the end of August, the integration of the new facilities into the operations management and portfolio management of oekostrom AG has been underway. The four wind farms, with a total output of 10 MW, are located in the German states of Brandenburg, Thuringia, Saxony, and Lower Saxony. With a planned total generation capacity of 20 GWh, they can supply approximately 6,000 households per year with clean energy. This acquisition doubles oekostrom AG’s capacity in the German market.
“Germany is a central growth market for us with enormous future potential,” emphasizes Ulrich Streibl, CEO of oekostrom AG. “We see great potential not only in acquiring existing facilities but also in developing new wind energy projects. Our goal is to further advance the expansion of renewable energies in Germany and sustainably broaden our portfolio.” In this way, oekostrom AG continues to focus on expanding wind energy, which plays a crucial role in providing reliable and sustainable energy by being flexibly integrated into the power grid, thereby contributing to grid stability.
“We are pleased to have found an experienced partner in oekostrom AG, who will ensure the successful continuation of the wind power portfolio. The wind farms, which were commissioned between 2014 and 2019, are already making a significant contribution to regional energy supply and will continue to contribute to a clean energy future,” states Karsten Reetz, Managing Director of reconcept.
The contract signing took place on August 9, 2024, at the premises of Momentum Rechtsanwälte in Munich. oekostrom AG has maintained a long-standing collaboration with the firm, whose expertise was instrumental in ensuring a smooth and successful process for this project.
Deal Team Momentum:
Dr. Philipp Gold, Partner (M&A, Corporate, Tax)
Milad Ghafarian, Senior Associate (M&A, Corporate)
Nicole Lucks, Senior Associate (M&A, Corporate, Tax)
Eveline Visbeck, Senior Associate (M&A, Corporate)
About oekostrom AG:
For 25 years, oekostrom AG has been a pioneer in driving the transition to a clean energy future. Founded in 1999 out of the anti-nuclear and environmental protection movement, oekostrom AG is now the largest independent energy service provider in Austria, with over 3,100 shareholders. The company supplies 100% clean electricity generated from wind, solar, and water. The electricity comes from Austrian power plants, from more than 2,000 solar installations of its customers, and from its own wind turbines. oekostrom AG is committed to a transparent, collaborative, and fair approach to providing clean energy in Austria.
About reconcept:
reconcept is an experienced project developer in renewable energies and an asset manager for sustainable investments, with over 25 years of experience. Together with more than 17,000 investors, reconcept has implemented photovoltaic, wind, hydropower, and tidal energy projects domestically and globally, with an investment volume of approximately €626 million (as of December 31, 2023). While its focus is primarily on Germany, it also extends to Finland and Canada. reconcept is certified as a climate-neutral asset manager and annually offsets its CO2 footprint through CO2 certificates in accordance with the Verified Carbon Standard.
About Momentum:
Momentum was founded in January 2021 as a boutique firm of experienced lawyers specializing in transactions in Munich. Another location was opened in Frankfurt am Main as of July 2023. We provide efficient, proactive and pragmatic advice in the areas of M&A, private equity, venture capital, corporate law and tax law.
