NeXtWind Founders to Sell NeXtWind Capital Limited to Sandbrook Capital
August 10, 2023
Cleary Gottlieb is advising NeXtWind’s founders Lars B. Meyer, Werner Süss, and Ewald Woste in the sale of NeXtWind Capital Limited to a consortium led by American private investment firm Sandbrook Capital and the securing of commitments by Sandbrook Capital, together with the Public Sector Pension Investment Board (PSP Investments) and institutional investor IMCO, to invest up to $750 million of equity capital to NeXtWind to acquire its existing portfolio of operating wind assets and to fund future growth.
Berlin-based renewable energy start-up NeXtWind was launched in 2020 with initial commitments led by Crestline Investors for more than $100 million to seed the platform and invest in its first German onshore wind assets. Working with strategic partners throughout the supply chain, it has pioneered proven mechanisms for managing the technical, development, and market risk associated with rejuvenating older assets.