Up to 750 million US dollars for NeXtwind

Sandbrook Capital, together with investors PSP Investments and IMCO, has signed an agreement to acquire NeXtWind, a German renewable energy company specializing in onshore wind farms, to support its growth strategy with up to $750 million.

Sandbrook Capital, together with investors Public Sector Pension Investment Board (PSP Investments) and the Investment Management Corporation of Ontario (IMCO), has signed an agreement to acquire NeXtWind Capital Ltd ("NeXtWind"), a German renewable energy company. NeXtWind specializes in the acquisition and modernization of onshore wind farms. The sale is being made by a consortium led by Crestline Investors, an investment company based in Fort Worth, Texas.

Investors Sandbrook, PSP Investments and IMCO will provide up to $750 million of equity to acquire NeXtWind's existing portfolio of operational wind assets and fund future growth.

We will acquire and repower additional wind assets to achieve our goal of becoming a major green power producer in Germany

Lars B. Meyer, NeXtwind

NeXtWind's management team, consisting of founders Ewald Woste, Werner Süss and Lars Meyer, brings extensive experience in the German energy market, having held senior positions at companies such as E.ON, Vattenfall and STEAG. Following the transaction, NeXtWind will be in a strong position to execute its strategy of acquiring and modernizing German wind assets and becoming a leading renewable energy company in Germany and beyond.

Germany is the largest onshore wind market in Europe with an installed capacity of around 58 GW at the end of 2022. Around 30% of this capacity (approximately 13,000 turbines) has been in operation for more than 15 years, representing a significant market of older turbines for modernization.