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Germans make backyard gain

Project developer Energiequelle buys Gehlenberg wind farm for €9m

Germans make backyard gain image

Athena Investments, formerly known as Greentech Energy Systems, has sold the 23.4MW Gehlenberg wind farm in Germany to Energiequelle for €9m.

German developer Energiequelle has been involved in the construction of project, which was commissioned in 2001, and has been its technical manager since then.

Athena expects the transaction to be completed in the first quarter of next year.

Athena’s chairman Peter Høstgaard-Jensen said: “The sale of the Gehlenberg wind farm represents the exit of Athena from the German market.

“Confirming the continuation of Athena’s ‘portfolio rotation’ strategy, the disposal gives Athena the possibility of reinvesting the equity in other profitable and accretive assets.”

Image: Pexels

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