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Germany

Germany

Utility takes stake in wind firm

A large municipal utility in Germany, MVV of Mannheim, has bought a 10% stake in DeWind Technik. a manufacturer of wind turbines. The utility acquired its share -- with an option to increase it to 40% -- after DeWind increased its capital stock recently by DEM 5 million.

"The new strategic stake is part of a consistent drive to expand our innovation portfolio of decentralised energy technology and new systems for energy distribution and energy management," says MVV's Roland Hartung. MVV is to help DeWind open new markets -- particularly on the Iberian peninsula through MVV subsidiary, EPS Portugal. MVV can also support DeWind with its multi-utility services like power engineering and project management, Hartung says. MVV profit was DEM 184 million on a turnover of DEM 1.1 billion, according to its most recent financial report.

Meanwhile, Berlin venture capital company BMP Life Science has raised its share in DeWind to 30% -- up from the 25% held since the autumn (Windpower Monthly, September 1999).

DeWind sales were DEM 70.2 million in 1998/1999 and are predicted at DEM 150 million in fiscal year 1999/2000. Over the same period, profits are expected to rise from DEM 500,000 to DEM 6 million, the company says. According to German wind energy institute DEWI, DeWind is the seventh largest turbine maker in Germany. DeWind says it has 5% of the German wind market.

The company has another co-operation with German wind plant developer and operator Plambeck Neue Energien (PNE), covering three wind projects in Ireland worth together over DEM 60 million and involving a total of 27 megawatt size turbines (Windpower Monthly, September 1999). This is in addition to a separate framework agreement between the two companies, which incorporates 75 DeWind turbines worth around DEM100 million.

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