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WPD looking for buyer: Bloomberg
Posted on Wednesday, 16 May 2018 15:22
German wind farm operator WPD is keeping its eyes peeled for new investment, people in the know told Bloomberg.
According to the sources, who did not wish to be identified as they have not been authorised to comment on the situation publicly, the company is hoping to receive an injection of at least USD 1.00 billion.
However, the people added that an acquisition of the entire business is also a possibility.
According to Bloomberg’s sources, WPD hopes to raise funds to finance its ongoing development, but they cautioned that there is no guarantee of a deal taking place.
For its part, WPD has declined to comment on the report.
The company, which is active in the development, financing, construction and operation of wind farms on land and at sea, was founded in 1996 and now claims to be a leading force in the expansion of wind power onshore.
It operates from 30 offices worldwide, in countries throughout Europe, Asia and North and South America.
WPD has completed a number of asset sales in the past; according to Zephyr, the M&A database published by Bureau van Dijk, the most recent of these closed in December 2016, when it offloaded 35 wind turbines in Germany to Czech Republic-based energy player CEZ.
Prior to that, it divested eight onshore wind parks in northern and eastern Germany to Hansainvest Hanseatische Investment in May 2015, and jettisoned WE2 to EWE in April 2014.
No financial details of any of the transactions were disclosed.
Zephyr shows there have been 457 deals targeting wind electric power generation companies announced worldwide during 2018 to date.
The most valuable of these saw Canada Pension Plan Investment Board pick up the North American assets of Enbridge, which include its Canadian renewable energy activities and Cedar Point Wind Farm, for USD 1.74 billion.
© Zephus Ltd