Gothaer Insurance invests € 150 million in juwi IPP

03.02.2014
The juwi branch office near Brandis in Leipzig.
Photo: juwi

The Gothaer Insurance Group is becoming a strategic partner of the juwi subsidiary juwi renewable IPP GmbH & Co. KG. To kick off the collaboration, Gothaer will invest up to € 150 million in the expansion of juwi IPP's power plant park.

Currently, juwi IPP has a generation capacity of 450 MW from wind and PV systems at its disposal, according to the company. This capacity will be more than doubled in the course of the next three years to 1150 MW. So far, the PV and wind systems were mainly in Germany. Other European countries are to be added in the future. Of the € 150 million from Gothaer, the first tranche of € 50 million was already invested in December 2013. This enabled juwi IPP to secure wind projects with a capacity of 125 MW in 2013.

Co-manager of juwi IPP Björn Meyer is looking forward to the cooperation: "Gothaer Insurance is the ideal partner for us because they have extensive experience in the field of renewable energies, since they have been insuring these types of systems for decades. It is also one of the very first insurance companies to get involved in this sector directly at the company level."

As Harald Epple, Chief Financial Officer at Gothaer Insurance explains, the involvement with juwi IPP is a long-term opportunity to earn a guaranteed interest rate for Gothaer's customers, particularly during the current low-interest phase. "juwi IPP has an attractive portfolio of wind and solar projects from different manufacturers in different regions of our country, which have predictable, stable cash flows. In addition, the juwi Group is one of the most experienced project development companies for renewable energy and is a partner with an amply filled project pipeline," he explains.

Tanja Peschel

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