NeXtWind Closes on the First Three Wind Assets after Debut Capital Raise​

Investment platform “off to flying start” after securing three prime wind parks and deploying over half its initial capital Berlin, June 28 2021 – NeXtWind, a green independent power producer (IPP) focused on the repowering and lifetime extension of European clean energy assets, has made three strategic investments in wind energy projects in Northern Germany, totalling over US $50m. The acquisitions were made in the first six months after the company’s debut fundraising round, where it secured US $100 million from institutional backers and family offices. The projects across Lower Saxony and Saxony-Anhalt encompass 34 turbines, with a combined capacity of 70MW and an average age of 14 years. NeXtWind will keep the energy transition moving forwards by rejuvenating the sites with new, more efficient technology, almost tripling their annual output from just above 100 to roughly 300 GWh/year – enough to power close to 100,000 households.* These early acquisitions indicate significant momentum behind NeXtWind’s strategy to source, acquire and rejuvenate ‘teenage’ wind parks that are reaching the end of their regulatory life. Since NeXtWind’s launch in February 2021, the team has successfully deployed over half of its initial capital raised from established sustainability investors including Crestline Investors, Ferd and ARB Investment Partners.  Lars Meyer, Chief Investment Officer at NeXtWind, said: “We’re off to a flying start as we progress towards our strategic goal of acquiring, rejuvenating and operating a 1GW portfolio of clean energy assets. Ownership of these aging project sites, particularly in Germany, is highly fragmented, so strong local market relationships are essential for sourcing and successfully executing investment opportunities. “During these first acquisitions, our origination team has successfully closed not only with established onshore wind development businesses, but also with an array of private investors demonstrating our differentiated ability to source off-market deals. We’ll continue to draw on these relationships as we take the projects through permitting and development, PPA negotiations, and into long-term operation.” NeXtWind is now working with its local partners to bring its first projects to fruition, with lifetime extension and repowering work across all three sites due for completion between 2024 and 2026. Meanwhile, as the projects move off the state Feed-in Tariff (FiT), long-term Power Purchase Agreements (PPAs) are being negotiated with leading European utilities as offtakers to stabilise future revenues. With a number of further German sites under consideration, the business expects to deploy the remainder of its initial capital allocation over the next 12 months, in parallel with fundraising to enable a second phase of investments in Germany and across Europe. -Ends- About NeXtWind Formed in 2020, NeXtWind is a green independent power producer focused on the life extension and repowering of European clean energy assets.  Its team blends decades of wind and energy industry experience with specialist green finance and transaction expertise.  The company is backed by established sustainability investors, including Crestline Investors, Ferd and ARB Investment Partners. * Based on annual consumption for the average household in Germany @ 3113 kWh/year ​

Energy and Finance Heavyweights Launch IPP to Rejuvenate Older European Wind Parks​

NeXtWind launches with initial commitments for more than US$100m to invest in the German onshore market  Berlin, 3rd February, 2021- Combining more than 100 years’ experience in energy, green finance and M&A across its senior team, NeXtWind today launches its strategy to become Europe’s next major green independent power producer (IPP). Backed by established sustainable investors including Crestline Investors, Ferd and ARB Investment Partners, the company will initially seek to acquire and rejuvenate older, most likely teenage, wind parks in Germany. Working with local communities and partners to bring new life, higher performance and shared benefit to existing sites, NeXtWind’s strategic goal is to acquire and transform a portfolio in excess of 1GW of end-of-regulatory-life European assets. Ewald Woste, NeXtWind CEO, said: “ The older wind sites tend to have the best locations but the worst efficiencies.  We’ve assembled the expertise and funding to ensure that these sites are not lost to a diminishing baseline of clean power.  Indeed, with smart investment and management we expect to double the average wind harvest from these pioneering parks.  With Germany phasing out coal and nuclear generation, this is important work”. Lars Meyer, Chief Investment Officer at NeXtWind, said: “The energy transition must keep moving forwards and an increasingly important ingredient to that will be the rejuvenation of Europe’s early green energy parks.  In Germany alone, we estimate that some 15GW of teenage onshore wind capacity will soon need to navigate today’s market complexities and determine a proactive plan for a future that looks very different to the present.  It’s an extremely fragmented market in need of consolidation, modernisation and significant investment”. With an active M&A pipeline already in place, NeXtWind expects to complete the acquisition of its first sites in the coming weeks.  Acquired sites will either be repowered or undergo lifetime extension works.  The company is currently negotiating framework agreements with some of Europe’s largest utilities in order to facilitate the signature of future Power Purchase Agreements (PPAs). -Ends-Notes to editorsThe Board and senior management team at NeXtWind includes: Ewald Woste (CEO), a stalwart of the German energy industry and a member of supervisory boards including E.ON SE and dena, the German energy agency;Lars Meyer (CIO), a private equity investor and entrepreneur with deep experience of investing in the German wind and Spanish solar markets, including as a former Managing Director at Centerbridge;Werner Süss (COO), formerly a member of the Top Executive Management Group at Vattenfall AB and founder of several wind and clean energy investment platforms;Sven Hansen (Chairman), a seasoned investment banker and private equity executive who, since 2000, has overseen the development of eight investment firms in the cleantech sector. About NeXtWindFormed in 2020, NeXtWind is a green independent power producer focused on the life extension and repowering of European clean energy assets.  It is backed by established investors including Crestline Investors, Ferd and ARB Investment Partners.​