NeXtWind’s shareholders are understood to be in talks with a small handful of prospective suitors after appointing financial advisor UBS to support on a potential sale earlier in the year.

Sandbrook Capital, Public Sector Pension Investment Board and the Investment Management Corporation of Ontario (IMCO) acquired NeXtWind Capital from a Crestline Investors-led shareholder group in summer 2023.

The company now operates 37 onshore wind sites with 500 MW of installed capacity as of late 2025, with 1.9 GW in permitting and construction. The company aims to exceed 3 GW of capacity by 2028.

Its shareholders are understood to have opted to keep the process a tight one, with engagement limited to only a small number of parties.

Ardian Infrastructure, Copenhagen Infrastructure Partners and Engie have all been connected to the process in recent weeks, although the exact bidding timeline is not yet known.

NextWind completed a EUR 1.8bn syndicated debt financing in November 2025, with proceeds to be used for acquisitions, repowering of existing wind parks, and development of integrated clean energy hubs.

The Berlin-based IPP launched in late 2020 with a focus on acquiring and rejuvenating older onshore wind farms across Germany which have typically been in operation for over 10 years.

Sandbrook, PSP and IMCO said three years ago that they aimed to commit up to USD 750m in equity to support NextWind Capital’s growth over the coming years.