Wind power development company Taurus Energy today announced the acquisition of a majority of its shares by renewable energy company voltwerk AG of Hamburg, Germany.

Taurus Energy is a specialist wind power development company based in North Sydney. Taurus is the leading medium-scale wind farm developer in NSW, with a number of projects at various stages of development. Taurus focuses on 20-40 megawatt projects connecting to existing power lines to reduce the costs and time involved in developments.

Voltwerk AG is a subsidiary of Conergy AG, one of the largest renewable energy companies in the world, which is based in Hamburg and listed on the German stock exchange. Conergy has over 500 employees and operations in 15 countries.

Under its new ownership, Taurus will continue to develop its existing portfolio of medium scale wind sites in NSW, and will expand its activities to include solar energy and other renewable energy technologies.

“Thanks to the acquisition, we gain a huge developmental lead. Taurus possesses excellent market knowledge and advanced wind projects with a total output of over 100 megawatts which we intend to realize within the next two years,” explained Nikolaus Krane, CEO of voltwerk AG.

“This is an excellent opportunity to combine our local knowledge and experience with voltwerk’s international project finance, access to leading technology and project delivery capabilities” said Andrew Durran, executive director of Taurus Energy. “With voltwerk’s backing and expertise we can work on more projects in a greater range of renewable technologies.”

“We are very enthusiastic about our future as part of voltwerk and the local opportunities in solar technologies, and particularly solar cooling” said Martin Poole, director of Taurus. “There is great potential for solar cooling, which can deliver economic benefits in commercial and industrial buildings and at the same time very large greenhouse gas savings and reductions in peak demand on the electricity networks”.