NeXtWind Receives Investment for Sustainable Energy

Berlin-based energy company NeXtWind, together with the Public Sector Pension Investment Board (PSP Investments) and IMCO, has secured a financing of up to $750 million from Sandbrook Capital. NeXtWind was founded by Lars B. Meyer, Werner Süss and Ewald Woste. It will expand its commitment to sustainable energy solutions in Germany by developing its portfolio of ten wind farms in Northern and Eastern Germany. It will also repower Germany's predominantly obsolete wind turbines.

Also See: Wint, Developing Water Leak Detection Technology, Receives Investment

NeXtWind

According to current figures for 2022 from the consulting firm Deutsche Windguard, Germany is Europe's largest onshore wind market with an installed power generation capacity of around 58 gigawatts at the end of 2022. Around 30 per cent of this capacity, around 13,000 wind turbines, need to be replaced with newer and more efficient turbines that have been in operation for 15 years or more.