Berlin-based energy start-up NeXtWind has secured a financing round of up to $750 million from Sandbrook Capital, together with the Public Sector Pension Investment Board (PSP Investments) and IMCO.
Founded by Lars B. Meyer, Werner Süss and Ewald Woste, NeXtWind will expand its commitments to sustainable energy solutions in Germany by building on its portfolio of ten wind farms in Northern and Eastern Germany - driving 'the repowering of Germany's predominantly aged wind turbines'.
"We identify wind farms that are suitable for combination with photovoltaic systems as well as batteries for intermediate storage. We want to redefine classic energy supply – green, decentralised and sustainable," says Süss.
"With the new investors, we can now accelerate the implementation of our business model. We will acquire and repower more wind power plants to achieve our goal of becoming a major sustainable power producer in Germany," says Mayer.
According to current figures from the consultancy Deutsche Windguard from 2022, Germany is the largest onshore wind market in Europe with an installed power generation capacity of around 58 gigawatts at the end of 2022. Around 30% of this capacity, around 13,000 wind turbines, have been in operation for 15 years or more and need to be replaced by newer and more efficient turbines.
Image source: nextwind.de
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