Virtual Data Room Drooms Assists Stuttgart Public Utilities and BayWa r.e. in Wind Farm Sales Proceedings
Sale of 8 Wind Turbines Provides Total of 16 Megawatts to More Than 10,000 Households
Stuttgart’s public utilities have acquired a wind farm located in the Westphalian town of Everswinkel from BayWa r.e. renewable energy GmbH (BayWa r.e.), a subsidiary of BayWa. Altogether, the eight wind turbines, with a total installed capacity of 16 megawatts, supply electricity to more than 10,000 households. The transaction was facilitated through a secure virtual data room from Drooms.
“With critical business transactions like M&A, it is vital that the sales process can be carried out as securely and efficiently as possible,” said Drooms managing director Jan Hoffmeister. “A virtual data room from Drooms is ideally suited to this task, especially when it comes to handling sensitive data.”
Those involved in a transaction are provided with round-the-clock access to all relevant receipts, contracts, invoices, and other documentation in accordance with previously defined authorisations. The Drooms virtual data room offers several features to help streamline operations, including rapid downloads so that documents are displayed in real time and a Q&A management tool to coordinate the communications and sales processes.
Even after completing the transaction, BayWa r.e. sees its role in the project as far from over. The company, which was responsible for both the development as well as turnkey installation of the wind farm, will retain responsibility for business and technical management.