The aim is to acquire concessions and develop and sell farms. Hochtief Solutions and Ventizz Capital Partners each hold a 50% interest in Hochtief Offshore Development Solutions. Their plans include the acquisition and development of wind farm concessions and capitalising on the resulting value growth by selling them on before construction begins. The new company said that it will focus on readying the subsequent construction of the wind farms in a way that significantly reduces the risk of cost overruns and delays. This will benefit the companies that later go on to construct and operate the wind parks at the sites concerned, according to Hochtief, avoiding risks seen on projects currently in progress.
The company does not aim to build and operate wind farms itself. Instead, it plans to sell concessions to the future operators such as energy suppliers and public utilities, financial investors and large industrial companies.
Head of energy and infrastructure solutions at Hochtief Solutions Ullrich Reinke said: "Offshore wind farms offer enormous growth potential. With the new company, we also want to contribute our know-how during the early development phases of offshore projects and thus augment value creation in this future market. Everything taken together will make for a continuous project pipeline for the group, with high earnings potential."
Hochtief already carries put construction and logistics services for a number of German wind farms as well as operating in port construction, maritime civil engineering and offshore logistics. It operates its own jack-up platforms and is currently building an vessels, the Innovation, together with a partner. Ventizz Capital Partners is a private equity investor in the German-speaking regions for technology-oriented growth companies.
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