Up to US$750 million for NeXtwind

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

Sandbrook Capital, along with investors Public Sector Pension Investment Board (PSP Investments) and 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 refurbishment of onshore wind farms. The sale is being made by a consortium led by Crestline Investors, an investment firm based in Fort Worth, Texas.

Investors Sandbrook, PSP Investments and IMCO will provide up to $750 million in 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 upgrading German wind assets and become a leading renewable energy company in Germany and beyond.

Germany is the largest onshore wind market in Europe with an installed capacity of approximately 58 GW at the end of 2022. Approximately 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 refurbishment.