According to the managing director of juwi South Africa, Greg Austin, the new loan agreements have been signed by more than 40 financial institutions. The agreements have a volume of around €300m and a four-year term.
juwi can now draw on extensive credit lines through to December 2018 and can therefore continue to act as a reliable partner in the energy turnaround in Germany and abroad. For juwi, the conclusion of this new strategic partnership is an important milestone that will strengthen and enhance its core business of project development, construction as well as operations and maintenance.
The German stock listed energy player MVV Energie AG, with an annual revenue of around €4bn and 5,400 staff, plans to further expand its commitment in the renewable energy sector through this new investment. The transaction between the two successful companies marks a historic milestone in the German energy industry and adds muscle to juwi's position in South Africa.
Commenting on the successful transaction Austin says: "MVV Energie's investment into juwi AG will have a positive impact on the bankability of juwi internationally as a leading integrator for solar PV EPC and project developer, and will enable juwi SA to expand its operations as a result of increased lines of guarantee for projects."
Austin adds that from an operational perspective juwi SA anticipates that MVV Energie's long energy industry experience will be reflected in improved business synergies, which will lead to increased efficiencies across the juwi group and of course in South Africa as well.
"MVV Energie has invested in generation assets over its long history, and has investments internationally. The long-term energy modelling that underpins the business will be a tremendous asset in assisting in shaping juwi's international markets development," says Austin.
For the founders and acting chief executives of the juwi group, Fred Jung and Matthias Willenbacher, the transaction represents a major building block for sustainable growth in the juwi group. "We are delighted to be teaming up with Mannheim-based MVV Energie AG, which is already active in the field of renewable energies and is now interested in the sustainable and strategic expansion of this commitment together with us."
For MVV Energie AG, the partnership with juwi represents the systematic evolution of its strategic orientation. "The ongoing transformation of energy supply structures in Germany centres on an efficient and environmentally-friendly combination of renewable and conventional energies as pillars in the energy system of the future," commented Dr Georg Müller, chief executive of MVV.
He adds that the strategic investment and cooperation offered juwi, its project partners and other interested parties necessary stability and complementary development perspectives. Under the new corporate structure, juwi will systematically continue realising its well-filled project pipeline and also moving forward with marketing its projects to interested investors.
