€18m capital increase for Vergnet

26 April 2011 by Jan Dodd, Be the first to comment

FRANCE: French developer Nass & Wind and the government-backed Strategic Investment Fund have agreed to invest up to €18m in local turbine manufacturer Vergnet, which specialises in turbines for demanding environments.

The capital increase will allow Vergnet to strengthen its financial position, fulfil orders and continue to grow, particularly in France's overseas territories, the group says.

Vergnet will also join the consortium led by Nass & Wind in developing the Winflo free-floating turbine for deep-water sites. Vergnet will design the nacelle, including the rotor and blades.

Vergnet is currently building a 120MW plant at Ashegoda in Ethiopia and expects to win orders following the government's call for 95MW of installed capacity in its overseas territories.

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