Cooperation agreement for wind projects in the United States

By Global Infrastructure Sherpa · May 15, 2024

Partnership Wind announced United States May 15, 2024

EUR1.2B

Deal Value

1 GW

Capacity

development

Stage

ERG has a cooperation agreement with Apex to develop 1 GW of wind projects in the United States.

Deal Analysis

ERG Renew's cooperation agreement with Apex to develop 1 GW of wind projects in the United States represents a significant expansion of ERG Renew's renewable energy portfolio beyond its established European base. This partnership allows ERG Renew to leverage Apex's development expertise in the US market, while Apex benefits from ERG Renew's financial strength and operational experience in renewable energy. The deal underscores the continued attractiveness of the US wind energy market for international investors seeking growth opportunities in renewable energy. The undisclosed value of the deal makes it difficult to fully assess its financial implications, but the 1 GW capacity target indicates a substantial investment. The partnership between a European renewable energy major and a US developer highlights the increasing globalization of the renewable energy sector. This agreement is likely to contribute to the growth of wind energy capacity in the US and support the country's transition to a cleaner energy mix. Further details regarding the specific project locations and timelines will be crucial in evaluating the deal's overall impact.

1 GW wind project development target indicates a substantial investment.
Partnership between a European renewable energy major (ERG Renew) and a US developer (Apex).
ERG Renew expands its renewable energy portfolio beyond Europe.
Underscores the attractiveness of the US wind energy market for international investors.

Market Context: The US wind energy market is a mature and growing sector, attracting significant investment due to favorable policies and increasing demand for renewable energy. The market is characterized by the presence of both domestic and international players, including developers, utilities, and equipment manufacturers.

Source Intelligence

KEY DETAILS

ERG aims to achieve 0.5 - 0.7 GW of installed renewable capacity in the United States. Quote: Development in the USA as a central element of the Plan: we aim to achieve 0.5 - 0.7 GW of installed renewable capacity in the United States.

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Deal Size

Investments relating to the outlined strategy total approximately EUR 1.2 billion in Italy, Europe and the United States (with about EUR 2 billion forecast to 2028).

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Capacity

+ 1 GW of projects in the United States through the cooperation agreement with Apex

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Location

+ 1 GW of projects in the United States through the cooperation agreement with Apex

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Announcement

Genoa, 15 May 2024 – ERG's Board of Directors, that met today, has examined and approved the 2024-2026 Business Plan and ESG Plan.

PARTIES MENTIONED IN SOURCE

Apex developer

"+ 1 GW of projects in the United States through the cooperation agreement with Apex"