Steag seeks buyers in France and Poland

FRANCE: The Steag Group is looking for co-investors in several French onshore wind projects, and is also considering a 100% divestment of its two Polish projects.

Steag aims to sell parts of its French and Polish portfolio, but will continue to grow in Germany
Steag aims to sell parts of its French and Polish portfolio, but will continue to grow in Germany

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The German energy producer requested submissions of interest by 18 April to participate in a transparent and non-discriminatory bidding procedure for acquisition of minority stakes in seven project companies in France.

The subsidiaries have a combined capacity of roughly 94MW, together with a minority or 100% stake in two wind projects in Poland, with a combined capacity of roughly 20 MW.

The French wind farms are located in: Woelfling-les Sarreguemines (10MW), in commercial operation since 2012; Coume (10MW, 2012); Quesnoy (12MW, 2010); Lanouee (8MW, 2014); Guegon (10MW, 2014); Bernot (27MW, 2016); and Cormainville (18MW, 2016).

In Poland, the projects are located in Ilawa with 12MW, operational since 2014; and in Nidzica (8MW, 2013).

The responses are to go to Macquarie Capital Europe, which is handling the procedure.

Steag, a major Germany coal power station operator, announced in September 2016 that it planned to sell wind sites outside Germany in the near future as part of its new business strategy dubbed "Steag 2022".

The aim of the programme is to sell assets "at the zenith of their value-added," to exploit the sellers' market and generate liquidity for the company.

Steag plans to continue expanding in the onshore wind sector, however, but focused on Germany and France, and on involvement in early project development with the option of later, profitable sale to third parties.

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