Onshore wind energy

Your expert for questions

Heiko Stohlmeyer, Director, Erneuerbare Energien bei PwC Germany

Heiko Stohlmeyer
Director, Renewable Energies at PwC Germany
Tel: +49 171 3344297
Email

Harnessing the opportunities of onshore wind energy

Onshore wind energy is the backbone of Germany’s energy transition and one of the driving forces behind Germany’s future energy supply. The German onshore wind market is a key component of the country’s energy transition, which aims to increase the share of renewable energy and reduce CO2 emissions. Germany already has a significant installed capacity of onshore wind turbines and has set ambitious targets for the future. The German government has adopted policies to support the expansion of onshore wind. The expansion of onshore wind energy is supported by the Renewable Energy Sources Act (EEG). It guarantees operators a market premium for the electricity generated over a fixed period of time, which is determined by auction and supports the economic viability of such projects. However, for the successful implementation of an onshore wind project, various other complex technical, economic, regulatory, and tax-related questions must also be addressed.

Our experts have decades of experience in this field. Leverage our expertise and specialised global and multi-disciplinary industry network to ensure the success of your project.

Continue reading to find out more about us. Or give us a call. We look forward to hearing from you.

Meet our team

Contact us

A reliable partner: from market entry to implementation

PwC’s energy experts have been actively involved in shaping the onshore wind energy market since the introduction of the EEG in 2000. Since then, PwC’s clients have benefited from our highly specialised teams, their extensive industry experience and PwC’s global network in numerous projects. This is true whether they were looking for support across the value chain – from strategic advice to project finance and transaction support – or whether they have engaged PwC for specific tasks. Your success is always at the heart of everything we do.

As part of our transaction advisory services, onshore wind energy experts provide professional support at key stages of fund, corporate and project transactions and investments.

Sell-side consulting
As your sell-side consultants we work closely with you to optimise the sales process. We can help you determine the value, identify the strengths and weaknesses of your project or company and develop an effective sales strategy. We also provide guidance on finding a buyer/strategic partner for your project and prepare all the necessary transaction documents, including an information memorandum, term sheet or customised financial model. Our goal is to collaborate with you to ensure a successful transaction through the best possible sales process.

Buy-side consulting
As your buy-side consultants we will work closely with you to identify and evaluate the right investment opportunities. We will help you to find investment and acquisition opportunities and support you throughout the entire purchase process. We help you to find investment and acquisition opportunities and support you throughout the entire purchase process. This includes due diligence of the project, valuation and purchase price determination, submission of an offer and the signing of contracts.

Commercial due diligence
Our Commercial Due Diligence (CDD) provides a thorough analysis of the economic assumptions used to value and purchase renewable energy projects, as well as business model and market analyses. We identify potential risks, opportunities and value drivers to ensure your investment decision is well founded.

Our valuation and benchmarking services provide you with accurate analysis to help you make informed investment decisions. We help you to identify opportunities and minimise risks.

Project, portfolio and company valuation
Our experts conduct targeted project, portfolio and company valuations to validate the value of your investments and businesses. We consider all relevant factors, from financial aspects and market conditions to strategic considerations. We provide valuations of wind and solar farms and project portfolios at every stage of project development, with the aim of determining a fair market sale or purchase price.

Benchmarking
Our benchmarking analyses allow you to compare the economic assumptions of your project and company with current market data. For example, we use our benchmark database, which contains a wide range of data on solar, onshore and offshore wind projects, to check that the economic assumptions made in the bid reflect current market circumstances.

Our strategic consulting services focus on market analyses, market entry strategies, plausibility checks of business plans and the preparation of expert opinions to help you make informed business decisions.

Market analysis
Our experts carry out customised market analyses on markets and innovative new business models, such as hybrid power plants, battery storage or hydrogen production. We use our extensive network, databases and specialist knowledge of industry trends, the competitive landscape and market potentials. We provide market analyses and research on a range of renewable energy issues to inform strategic decision-making.

Market entry and analysis of business plans
We develop tailored market entry strategies based on your specific requirements. We also check and analyse the plausibility of business plans in the various renewable energy market segments. We advise companies on strategic decisions, such as entering a specific renewable energy market or expanding existing business activities. For this purpose, we analyse the market environment and consider the current corporate structure and strategy in our recommendations.

Expert opinion
Our expert opinions provide you with objective and in-depth analysis. We also act as consultants to courts, authorities and banks, providing expert opinions on funding opportunities or specific risks associated with renewable energy.

Our financial advisory services provide personalised, in-depth assistance with project financing and refinancing, as well as corporate finance.

Financing and refinancing of projects
Our experts will help you to develop the right financing and risk structure for your project. We help structure and arrange equity and debt capital, organise investor and bank competitions and advise on negotiating financing terms.

Corporate financing
We offer comprehensive support in the planning and realisation of your corporate financing. Our advisory services range from the evaluation of various financing options and the structuring of equity and debt through to the optimisation of your capital structure. As with project finance, we will prepare a term sheet or information memorandum and organise the banking process for you.

Financial modelling and model review
We offer a robust, flexible, and market-proven onshore project finance model that follows international modelling standards and can be tailored to your needs. This ranges from a single-asset transaction model to a portfolio model and an operating model for wind farms under operation. We also regularly review financial models (model audit and model review) and provide trainings in financial modelling. Our models can be used to help you decide whether to finance a company, a project, or a portfolio of projects.

Our tax experts specialised in renewable energy projects and transactions provide tailor-made solutions for all tax challenges, whether in the context of a transaction, financing, or structuring. From tax due diligence and tax support on the financial model and the development of tax-efficient financing and project structures, to advice on contractual negotiations and tax structuring with a view to a future transaction or post-acquisition, we can help you maximise tax opportunities and minimise risks.

Tax Due Diligence
Should you allow us to work for you on the sell-side, we will contribute to a smooth process with a customised tax vendor due diligence report or tax factbook. On the buy-side, we provide tax due diligence to ensure that all tax risks associated with the transaction are fully understood and appropriately managed.

Tax support in relation to the financial model
As part of the financial modelling process, we ensure that the financial model correctly reflects the tax structure and current taxation.

Developing tax-efficient financing and project structures
We help in creating tax-efficient financing and project structures. By closely collaborating across disciplines, we ensure a deep understanding of your commercial project goals. Drawing on this understanding, our tax experts, specialised in the renewable energy sector, offer well-planned tax strategies to improve the profitability of your projects.

Advice during contract negotiations
During contract negotiations, we can help you to take all aspects of taxation into account. We will support you in drafting contracts to ensure tax efficiency and to minimise potential tax risks.

Tax structuring for transactions and post-acquisition
We assist you in the tax structuring of your project or company regarding a transaction or post-acquisition. We ensure that the transaction object is structured in a tax-optimised manner to make it attractive to potential buyers. We also ensure successful post-transaction tax integration.

Our legal advice provides comprehensive support to successfully manage and resolve legal aspects and issues at all stages of your project and business. From conducting a Legal Due Diligence and ensuring compliance in drafting project and financing agreements to providing expert guidance from our experienced attorneys during transaction negotiations.

Legal Due Diligence
Our legal experts conduct thorough legal due diligence reviews to provide you with a clear overview of legal risks and opportunities in the report format you require. We identify potential legal challenges to ensure that the negotiations and decisions made during the transaction process are well-founded.

Legally compliant drafting of project and financing contracts
Our lawyers develop tailored contract structures that not only protect your commercial and legal interests, but also ensure compliance and provide a solid foundation for the success of the project.

Legal advice and support during transaction negotiations
Our legal advice is provided by experienced lawyers who will advise you during the transaction negotiations. We ensure that legal aspects and challenges in the drafting of corporate acquisition contracts are optimally addressed, and legal issues are resolved. We assist with contract drafting and negotiation and protect your interests to ensure the smooth execution of a successful transaction.

*Services are provided by PwC Legal AG.

We understand your challenges and those of the market

Onshore wind energy plays a key role in the German energy transition, which aims to increase the share of renewable energies and reduce CO2 emissions. Despite their importance, onshore wind turbines in Germany face several challenges. A major challenge is the choice of site and the associated approval procedures and local acceptance of new installations.

In terms of revenue, the EEG is intended to drive forward the expansion of renewable energies as a central instrument of German energy policy. It was introduced with the aim of increasing the share of renewable energy in total energy consumption, thereby encouraging a shift towards low-carbon energy production. This is achieved through guaranteed payments to onshore wind farm operators for the electricity they generate. These remunerations have been adjusted over the years to adapt them to technological developments and reduce costs. However, care must also be taken to ensure that onshore wind projects remain economically viable to continue to attract investors.

Despite these challenges, onshore wind energy remains a key technology in Germany’s energy mix. The EEG and the German Onshore Wind Energy Act play a key role in promoting the generation of renewable energy and the expansion of onshore wind farms. Ongoing adaptation of the law to changing requirements and a balanced consideration of economic, social, and technological aspects are crucial for the success of onshore wind energy in Germany.

Infographic: Tender Results for Onshore Wind
Follow us

Contact us

Heiko Stohlmeyer

Heiko Stohlmeyer

Director, Renewable energies, PwC Germany

Tel: +49 171 3344297

Henrik Wrede

Henrik Wrede

Partner, PwC Germany

Tel: +49 170 9229464

Dr. Oliver Kunert

Dr. Oliver Kunert

Partner, PwC Legal

Tel: +49 179 1451162

Hide