en.Wedoany.com Reported - European Energy has completed the sale of a portfolio of 12 wind turbines in Waddinxveen, the Netherlands, to the Dutch company Westra.

European Energy stated that this transaction is part of its strategy to actively manage renewable energy assets and recycle capital for the development, construction, and operation of new projects. The company said that selling these assets will allow it to reallocate capital to its growing project pipeline across Europe. European Energy acquired these turbines in 2021 and has since managed and operated them while pursuing opportunities to enhance their long-term value. The 12 turbines have a total installed capacity of 6 MW.

Daniel Axelsen, Interim Country Manager for European Energy in the Netherlands, stated that active portfolio management is a core element of the company's business model and growth strategy, as it develops, optimizes, and operates renewable energy assets throughout their entire lifecycle. As assets mature, the company continuously evaluates opportunities to realize value and recycle capital into new projects. This transaction enables the company to ensure that the assets retain local ownership while continuing to expand its development activities across various markets.

The buyer, Westra, headquartered in Waddinxveen, stated that this acquisition expands its renewable energy business and supports its efforts in local electrification. Pieter Westra, Managing Director of Westra, said that this acquisition is an important step in strengthening its renewable energy business and achieving its goal of fully zero-emission operations by 2030. Local ownership is crucial, and the company believes that energy projects should be rooted in the communities they serve. By taking over these assets, both value and responsibility will remain in the region, while continuing to build a sustainable energy future in the province of Friesland.

Ploum acted as legal advisor to European Energy in this transaction.

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