A.P. Moller Holding, that controls Danish shipping giant A.P. Moller-Maersk, has unveiled its first step into the renewable energy industry with the planned acquisition of Danish wind turbine supplier KK Group.
On July 10, the company said that it agreed with SoLix Group
AB to acquire the supplier of power electronics solutions to the wind turbine
“As the wind industry has gained momentum globally, KK Wind
Solutions must expand its global footprint and follow its customers’
international expansion. With A.P. Moller Holding’s global mindset, network and
expertise, we believe we can be a good partner and an engaged owner to support
KK Wind Solutions on this exciting journey,” Jan T. Nielsen, Chief Investment
Officer, A.P. Moller Holding, said.
The parties have agreed not to disclose price and other
terms of the transaction. The deal is subject to customary regulatory approvals
in Denmark and Germany, with expected closing in the third quarter of 2019.
“Denmark is the leading hub for the wind industry worldwide
with significant global growth potential. We look forward to supporting KK Wind
Solutions’ further development and growth in this important industry,” Nielsen
KK Wind Solutions built one of the world’s first electrical
control systems for a wind turbine in the 1970s. Over the last couple of years,
KK Wind Solutions moved from being a components supplier with a narrow product
portfolio to becoming a leading systems supplier within wind power electronics,
delivering to all the large Wind OEMs, including SiemensGamesa, Vestas,
Mitshubishi Vestas Offshore Wind and GE Renewables.