Acquirer: innogy SE (Germany)
Acquired: EverPower Wind Holdings (US)
UPDATE: In July 2018, “Terra Firma  sold the development pipeline of . . . EverPower to German energy company innogy SE, following regulatory approval by the US government’s Committee on Foreign Investment (CFIUS). . . .” (Press Release, Terra Firma Receives Regulatory Approval For Sale Of Everpower’s Development Pipeline To Innogy SE, July 26, 2018.)
Posted February 1, 2018
Status: Upcoming/New Filing
On Dec. 22, 2017, Terra Firma Capital Partners, a UK private equity firm, announced that it “has reached an agreement to sell the development pipeline of US-based wind energy development and generation company EverPower [Wind Holdings US] to German energy company innogy SE.” (Terra Firma Press Release, Terra Firma Capital Partners Sells EverPower’s Development Pipeline to innogy, Dec. 22, 2017; see also innogy Press Release, US market: Innogy acquires onshore wind pipeline of more than two gigawatts, Dec. 22, 2017). Terra Firma has been an investor in EverPower since 2009, but “this transaction successfully concludes Terra Firma’s investment in EverPower.” (See Terra Firma Press Release, Dec. 22, 2017). Under Terra Firm’s ownership, EverPower “has grown operating capacity 12-fold to become a top 25 wind energy producer in the US.” (Id.) Along with the wind energy development projects, “innogy [will] acquire EverPower’s core team of wind project developers,” (Id.), and “innogy will become the sole owner of more than two gigawatts of onshore wind projects in various development stages located in attractive US power markets for renewables.” (innogy Press Release, Dec. 22, 2017.) “The acquisition is subject to approval by the US government’s Committee on Foreign Investment in the United States (CFIUS) with estimated closing of the transaction in the second quarter of 2018.” (Id.) “All parties have agreed to maintain confidentiality regarding the purchase price.” (Id.)
Please contact Peter Alfano with any questions.