Germany

Germany

UmweltKontor buys into Nevag -- starts with 40 MW

Umweltkontor Renewable Energy has acquired a 15% stake in the Nevag Group, an umbrella company which owns two wind project finance companies -- Enersys and Ventus -- wind turbine manufacturer Frisia, and renewable plant operator Nevest, among other interests. Its activities also include electricity trading, biomass and solar enterprises. A second company, Schnigge Beteiligung, has also taken a stake in Nevag bringing the number of institutional and strategic investors in the company to five. This is "a solid departure point for our further development," says Nevag, which is based in Wiesbaden. Umweltkontor's stake in Nevag is part of a long term co-operation in Germany and Europe that is to begin with a series of wind projects totalling 40 MW, details of which will be announced within the next two months, and biomass projects totalling 10 MW, the companies state. Umweltkontor Renewable Energy and Nevag already work together as two of seven partners in the wind planning group Wind 7 based in Eckernförde.

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