Consolis Partners with Nordex for Wind Turbine Tower Manufacturing
Deal News | Nov 05, 2024 | CEE Legal Matters
Consolis Latvia, a key supplier of precast concrete solutions, has entered into a strategic partnership with the Nordex Group, a renowned wind turbine manufacturer. This collaboration involves a substantial investment in modernizing Consolis's production plant at Rumbula, resulting in the creation of 100 new jobs. The agreement also includes Nordex providing tower molds valued at approximately EUR 1.5 million. The first joint venture project is the Laflora initiative, led by Latvenergo AS, which will feature 16 towers equipped with Nordex wind turbines, delivering a total capacity of 108.8 megawatts. Previously, Consolis has been advised by Cobalt in separate acquisition deals in 2018 and 2019 involving TMB Group's Latvian and Finnish operations.
Sectors
- Renewable Energy
- Manufacturing
- Construction
Geography
- Latvia – Consolis Latvia is involved in the partnership, and the modernization of their plant is taking place in Rumbula, Latvia.
- Germany – Nordex, the partner in this agreement, is based in Germany.
Industry
- Renewable Energy – The partnership between Consolis and Nordex is focused on producing wind turbine towers, which are critical components of renewable energy infrastructure.
- Manufacturing – Consolis's investment in modernizing its plant for tower production falls under the manufacturing sector.
- Construction – Consolis is a supplier of precast concrete solutions, relevant to the construction industry.
Financials
- EUR 1.5 million – Value of tower molds provided by Nordex as part of the partnership agreement with Consolis.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Consolis Latvia | Target Company | Company | Supplier of precast concrete solutions involved in the production of wind turbine towers. |
| Nordex Group | Partner Company | Company | Wind turbine manufacturer partnering with Consolis. |
| Cobalt | Legal Advisor | Company | Advised Consolis on the partnership agreement with Nordex. |
| Latvenergo AS | Project Developer | Company | Developing the Laflora project where the wind turbines will be installed. |