2017-05-26
http://w3.windfair.net/wind-energy/news/17154-new-financing-concept-completed-for-juwi-ag

News Release from juwi AG

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New financing concept completed for juwi AG

Banks and financing partners approve new loan agreements – Preconditions for partnership with MVV Energie AG thus fulfilled – Federal Cartel Office already gave go-ahead in mid-November

The preconditions for the partnership already announced between juwi AG (Wörrstadt / Rheinland-Pfalz), Germany’s leading renewable energies project developer, and Mannheim-based energy company MVV Energie AG have now been met. The Federal Cartel Office approved the planned investment in mid-November already. The banks and financing partners involved have now approved the new financing concept at juwi AG.
New loan agreements have been signed by more than 40 financial institutions. The agreements have a volume of around Euro 300 million and a four-year term. The juwi Group can now draw on extensive credit lines through to December 2018 and can therefore continue to act as a reliable partner in the energy turnaround. All previous financing partners will continue to accompany the juwi Group in expanding its wind and solar power projects in Germany and abroad in future as well.

This means that the final hurdle preceding the planned capital increase at the project developer has now been successfully taken. Here, MVV Energie will contribute Euro 99.4 million to equity at juwi AG and thereby take over a 50.1 percent stake in the Wörrstadt-based company. juwi’s two founders, Fred Jung and Matthias Willenbacher, will in future hold a combined 49.9 percent stake in juwi AG.

Once the transaction is completed, MVV Energie will appoint the Chief Financial Officer at juwi AG. Fred Jung and Matthias Willenbacher, previously the sole owners, will remain in the company’s management as CEOs of the juwi Group. Stephan Hansen, responsible for the company’s international activities, will also remain on juwi’s Management Board. The Supervisory Board will in future consist of equal numbers of representatives from MVV Energie and the previous sole owners.

Fred Jung and Matthias Willenbacher founded juwi in 1996 and have since grown the company into an international market leader in the development and operations management of wind and solar power projects with around 1,000 employees. For them, the new partnership with MVV Energie, a forward-looking player with great competence in the energy industry, offers the foundation necessary for juwi’s further development. “This constellation is unique in the German market. It will give us fresh impetus in Germany and also bolster our international activities in select markets.”

According to Dr. Georg Müller, CEO of MVV Energie AG, based on a “strong partnership of equals” the two companies aim to assume a pioneering role within the energy turnaround, one unique in the German energy industry landscape. Comments Dr. Müller: “We are thus linking renewable and conventional energies along the entire value chain. By offering an integrally connected, one-stop supply, we are laying a key foundation for the future energy system.” According to Dr. Müller, juwi and MVV Energie will now work together to expand renewable energies on an economically viable and reliable basis, thus helping to make a success of the energy turnaround.

 

Source:
juwi
Email:
info@juwi.de
Link:
www.juwi.de





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