• Zelestra strengthens its Germany Business Unit with a partnership that boosts Zelestra’s growth in Europe’s largest renewables market

• East Energy contributes more than 2 GW of solar, battery energy storage, onshore wind, and Power-to-X projects to Zelestra’s pipeline in Germany

Zelestra, a global, multi-technology, customer-focused renewable energy company, has acquired through its German business unit a majority stake in East Energy GmbH, a developer of innovative, multi-technology energy solutions based in Rostock, Germany.

As part of the transaction, Zelestra has acquired CropEnergies’ 25% stake as well as additional shares from East Energy Verwaltungs GmbH, thus becoming the majority owner of East Energy.

Partnering with East Energy is a key milestone for Zelestra’s Germany Business Unit as it strategically complements Zelestra’s organic growth initiatives in the German market. Zelestra is growing its business to become a leading multi-technology renewable energy independent power producer (IPP) in Germany, helping its clients to achieve their decarbonization goals in Europe’s largest energy market.

East Energy has an extensive pipeline of more than 2 GW of photovoltaic, battery energy storage, onshore wind, and Power-to-X (green hydrogen, eMethanol) projects, along with an experienced team that will strengthen Zelestra’s capabilities in Germany. Through the incorporation of East Energy’s development expertise, Zelestra will develop, build and operate these projects to provide carbon-free electricity and energy products to its customers.

Robert Hienz, Zelestra’s CEO in Germany, said: “This acquisition marks a significant step forward for Zelestra in Germany. By combining our resources with East Energy’s innovative approach, we are well-positioned to accelerate the energy transition in Germany. We are committed to delivering advanced, sustainable energy solutions that align with our clients’ ambitions and the country’s renewable energy goals. We warmly welcome the East Energy team to the Zelestra family, and we are excited about the potential that this collaboration will bring in the coming years”.

Dirk Petschick and Dirk Klänhammer, East Energy’s founders and Managing Directors, commented: ”We are excited to join forces with Zelestra, a company that shares our vision of a sustainable, multi-technology energy future. This partnership will allow us to take our innovations to a new level, benefiting both our customers and the wider energy environment”.

Dr. Georg von Graevenitz, CEO of CropEnergies, who is selling the firm’s minority stake in East Energy GmbH as part of the transaction, commented: “We are delighted to have found in Zelestra a new partner for East Energy, who will realize the planned projects in a timely manner. We will continue to work in partnership with the team in the future and look forward to further collaboration in the field of renewable energies”.

With the acquisition of this majority stake, Zelestra strengthens its commitment to the energy transition in Germany, developing multi-tech carbon-free solutions and positioning itself as a reliable and trusted partner thanks to its collaborative, customer-focused approach.

About Zelestra

With a portfolio of 25 GW of carbon-free projects across 13 countries, Zelestra is a vertically integrated company specializing in developing, commercializing, constructing, and operating large-scale renewable energy projects. Zelestra is made up of 953 professionals globally. It is backed by EQT, one of the largest fund managers in the world, with more than 232 billion euros in assets under management.