Eurowind Energy and Wind Estate are collaborating to form a joint venture valued at over three billion kroner, featuring an operational capacity of 186.3 megawatts (MW), including Denmark’s largest wind farm.
The partnership brings together Denmark’s two major wind developers under K/S Blue Holding. Following the transaction, K/S Blue Holding will own 186.3 MW of the Overgaard wind parks near Randers and the Nørre Økse Sø site near Brovst.
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Jens Rasmussen, CEO of Eurowind Energy, said, “We are pleased that we can elevate our cooperation to a new level for the benefit of all. By consolidating all the turbines in Denmark’s largest wind park, we maximize the value of the park.”
He added, “The collaboration benefits both companies, but also the landowners, shareholders, and the local community. We have several other joint interests, so it is certainly possible that we will further enhance our cooperation with Wind Estate, both in Denmark and abroad.”
K/S Blue Holding’s ownership will be evenly split, with Eurowind Energy A/S and Wind Estate each holding a 50% stake.
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Eurowind Energy is contributing 28 turbines at Overgaard, which total 96.9 MW, and 11 turbines at Nørre Økse Sø, adding another 39.6 MW.
Wind Estate is bringing 16 turbines to Overgaard, contributing 49.8 MW. Additionally, Wind Estate will pay Eurowind Energy.
While the specific financial terms of the deal remain undisclosed, both parties have confirmed that the overall value exceeds three billion Danish kroner, according to a company announcement by EuroWind.
With a total capacity of 146.7 MW, the Overgaard Wind Park is Denmark’s largest onshore wind farm, nearly double the capacity of the second-largest, Vindpark Thorup-Sletten, which has 77 MW.
Eurowind Energy and Wind Estate have historically enjoyed a strong and reliable partnership, which they are now enhancing through this new joint venture.