SWM buys into Wpd for onshore push

GERMANY: Municipal utility Stadtwerke München (SWM) has acquired a third of developer Wpd's international business as part of a joint-venture deal to invest €1 billion in onshore wind.

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Under the terms of the JV the firms plan to build onshore projects throughout 12 European countries, and Canada, with a combined capacity of more than 4.2GW. SWM will take a 33% stake in Wpd subsidiary Wpd Europe.

Developments in Germany, South America, Asia and in the offshore segment are not part of the cooperation.

Wpd Europe already has a project pipeline of over 4.2MW in different planning stages and operational wind turbines with a total output of 70 MW in Belgium, France, Italy, Croatia and Portugal.

The partnership deal between SWM and Wpd was originally announced in July and has now won the approval of competition authorities.

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