MVV Energie has increased its stake in renewable energy developer juwi with a fresh €70 million (US$77.3 million) investment.
The equity investment will increase MVV’s share in juwi from the 50.1% agreed in December 2014’s takeover to 63%. A holding company owned by juwi-founders Fred Jung and Matthias Willenbacher owns the remaining 37%.
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Juwi will use the new capital to boost its project development capabilities.
“The growth opportunities for juwi’s project development business have developed very positively in this year,” said Dr. Georg Müller, CEO of MVV Energie. “With the additional capital we lay the necessary basis for juwi to consequently utilize these growth opportunities – with a clear focus on wind onshore in Germany and on PV internationally.”