Sosteneo Acquires Majority Stake in 350 MW ENOVA Generation Onshore Wind Repowering Portfolio in Germany
Sosteneo SGR, part of Generali Investments, has signed an agreement to acquire a majority stake in ENOVA Generation, a new platform comprising 11 onshore wind repowering projects totalling 350 MW in Germany, sold by ENOVA Value (Omnes Capital and ENOVA Power). Approximately 40% is operational and 60% is under construction or approaching FID. All projects are backed by 20-year EEG remuneration. The deal is the inaugural investment of Sosteneo's Fund II.
Transaction date: · Source: sosteneo.com
Key facts
- Transaction date
- Technology
- Onshore Wind
- Capacity
- 350 MW
- Transaction price
- Not disclosed
- Buyer
- Sosteneo SGR S.p.A.
- Seller
- ENOVA
- Country
- Germany
- Region
- Germany (multiple locations)
- Continent
- Europe
- Development status
- Operational
- PPA
- Yes
Technology details
Portfolio of 11 onshore wind repowering projects with a total capacity of approximately 350 MW. Approximately 40% (140 MW) is already operational and generating cash flows. The remaining 60% (210 MW) is either under construction or approaching Final Investment Decision (FID). All projects receive remuneration under Germany's EEG for 20 years. ENOVA Power GmbH retains a minority stake and assumes full operational management of the portfolio.
Power purchase agreement (PPA)
All 11 projects receive remuneration under Germany's Renewable Energy Sources Act (EEG) for a period of 20 years, providing long-term contractually secured revenue visibility.
Additional information
Transaction marks Sosteneo's entry into the German market and is the first investment of its second flagship fund (Fund II), which has raised €300 million to date and targets a total size of €1 billion. Transaction expected to complete in Q3 2026, subject to customary approvals. ENOVA and Omnes will continue their partnership by acquiring and developing additional onshore wind assets in Germany. Publication date not disclosed in source.
Source
Original announcement: https://sosteneo.com/news/sosteneo-signs-agreement-acquire-wind-repowering-portfolio-germany