Germany-based renewable energy company BayWa Re has acquired wind energy developer NWind for an undisclosed sum.

With the transaction, BayWa Re has acquired a portfolio of almost 700MW and 60 wind projects.

The deal will allow the company to bolster its presence in its home market, especially in Germany’s northern region, and make use of NWind’s experience and expertise.

NWind managing director Nils Niescken said: “We’re thrilled to start this new chapter together with BayWa Re.

“Tenders, direct marketing, power purchase agreements – the German wind industry and market is constantly evolving.

“By combining our local focus and knowledge with BayWa Re’s own extensive capabilities, we will be able to successfully implement this significant project pipeline and be fully prepared for further evolutions in the German wind and electricity markets.”

With this acquisition, the company now has a wind project pipeline of almost 2.5GW in development in Germany.

BayWa Re Wind managing director Rainer Heyduck said: “The acquisition of NWind fits perfectly with our development strategy in Germany.

“To meet renewable generation and emission reduction targets, the German wind market is poised for further growth during the coming years.

“With the acquisition of NWind, we are ideally positioned to accelerate the growth of our already successful wind projects business.

“We are very pleased to welcome the NWind team to our family.”

NWind has been active in the German wind energy sector for more than 20 years and claims to have local market expertise.

In January, BayWa Re sold four German wind farms with a combined capacity of 53MW to Encavis Infrastructure Fund II.

The wind farms involved in the deal were Haltern-Sythen, Finkenbach-Gersweiler, Bedesbach and Bruchwald.

In May, BayWa Re acquired French wind and solar project developer Enerpole for an undisclosed amount.

The acquisition added a project portfolio of 600MW, including 300MW of solar and 300MW of wind capacity, to BayWa Re’s portfolio.