Chicago – July 30, 2018 – innogy SE (“innogy”) has announced its successful closing of the acquisition of EverPower Wind Holdings’ (“EverPower”) US onshore
wind development business by its wholly-owned subsidiary, Innogy Renewables US, LLC. Marathon Capital (“Marathon”) acted as an exclusive financial
advisor to innogy on the transaction. The transaction has been approved by governmental regulatory bodies. Following this acquisition, innogy has become
the sole owner of more than 2,000 MW of onshore wind projects in various stages of development.
Innogy Renewables US LLC, led by CEO Andrew Young, was established in 2016 and now consists of a team exceeding 40 colleagues, including those who joined
from the EverPower development team. The pipeline of wind projects is located across eight states (Maine, Maryland, Montana, New York, Ohio, Pennsylvania,
Washington and Wyoming) with three in late stage development – Cassadaga (~126 MW), Baron Winds (~270 MW) in New York and Scioto Ridge (~200 MW) in
Ohio. These projects are expected to be fully operating by 2020, with Scioto Ridge being the first targeted for 2019.
In addition to working with innogy on this acquisition, Marathon will work with innogy in raising project financing for the most mature projects. “It was
a pleasure to work with the smart and highly-dedicated innogy team members in US and Europe on this important transaction. This acquisition puts innogy
in an enviable position to grow market share in the most exciting wind markets in the US. We look forward to working together with innogy in financing
the late-stage projects.” – Ari Pribadi, Managing Director at Marathon Capital.
About Marathon Capital
Marathon Capital is a leading financial advisory and investment banking firm focused on providing financial advice in the areas of M&A, capital raising
of debt and equity, project finance, tax equity, financial restructuring, recapitalization, bankruptcy and workout situations in the energy sector.
Marathon Capital is a four-time recipient of the “Best Renewable Asset M&A Advisor” Award (2013, 2014, 2016, 2017), “Renewable Generating Project
Finance Deal of the Year” Award (2016) and first-time recipient of the “Best Asset M&A Advisor” (2017) in Power Finance & Risk’s Annual Power
Finance Deals and Firms Awards.
About innogy SE
innogy SE is a leading German energy company, with revenue of around €43 billion (2017), more than 42,000 employees and activities in 16 countries across
Europe. With its three business segments Renewables, Grid & Infrastructure and Retail, innogy addresses the requirements of a modern, decarbonised,
decentralised and digital energy world. Its activities focus on its more than 22 million customers, and on offering them innovative and sustainable
products and services which enable them to use energy more efficiently and improve their quality of life. The key markets are Germany, the United Kingdom,
the Netherlands and Belgium, as well as several countries in Central Eastern and South Eastern Europe, especially the Czech Republic, Hungary and Poland.
In renewable power generation, the company is also active in other regions, e.g. Spain, Italy and the USA, with a total capacity of 3.9 gigawatts.
As a leader of innovation in future-oriented fields like eMobility, we are represented in the international hot-spots of the technology industry such
as Silicon Valley, Tel Aviv and Berlin. We combine the extensive expertise of our energy technicians and engineers with digital technology partners,
from start-ups to major corporates.