Renewable Energy M&A: Strategic Moves by Greencoat- Doubles Stake in Butendiek Wind Farm in Just Nine Months, Strikes a Better Deal

published on 04 October 2023

Greencoat has skillfully steered its investment in Germany's Butendiek offshore wind farm. In January 2023, they bought a 22.5% piece for €190 million from Marguerite Pantheon. Nine months later, they've picked up another 22.5% from Siemens, this time at €168 million. The changing nature of markets and the opportunities out there make the energy world so interesting.

To offer some perspective on the power prices for the farm: Butendiek has cemented a PPA with a multinational entity. This move effectively allocates 62.5% of the wind farm's power capacity over a 6.5-year horizon. The wind farm is anchored by a fixed-price Feed-in Tariff (FiT) that will remain in effect until December 2023. Post this period, the project has ensured a consistent floor price for its electricity output through December 2035, positioning it optimally within the broader European corporate PPA landscape.

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The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.

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