EDF Renewables Inc. acquired approximately 300 MW of wind projects under development in 10 different federal states across Germany.
German renewable energy developer ALTUS AG will divest its stake in the project pipeline but will pursue local development of these projects up to the construction phase.
Upon securing all required permits, EDF will participate in the German federal government's onshore wind auctions to win 20-year power purchase agreements for the projects' output.
Currently, land lease contracts are secured and environmental studies are on-going. The projects are expected to be commissioned in the next five years.
"This deal is a good opportunity for EDF Renewables to strengthen its project development positions in Germany, a country which wants to reach 65% of renewable energy in its electricity consumption by 2030," EDF Renewables International Operations Executive Vice President Frédéric Belloy said in a Sept. 12 news release. "This new step in the country also fits the EDF Group's CAP 2030 strategy aimed at doubling its renewable capacity, both in France and worldwide between 2015 and 2030."
EDF Renewables is a subsidiary of France-headquartered EDF Group.
