Visit windpowermonthlyevents.com for the latest on our upcoming conferences and webcasts

Germany

Germany

PNE plans 10GW in projects over the next three years

GERMANY: German wind developer PNE Wind is planning to expand its global onshore project pipeline to 10GW within three years, a rise of 7.8GW on 2009's figure.

In the North Sea and Baltic Sea offshore sector, the company had permits for wind stations with 1GW of capacity and another 1.4GW in the permitting process, to total 2.4GW at the end of 2009. It intends to build up its offshore project pipeline to 5GW within the medium term. 

In the US, PNE's 2009 project pipeline of 600MW will be expanded to 2.5GW by 2012, the company said. It expects to install about 50MW of wind capacity in Germany this year and in 20011 as well as an unspecified amount of MWs abroad.

At a press presentation in Frankfurt on 10th March 2010, PNE chairman Martin Billhardt put the market value of its onshore projects at €150,000/MW, and that of its offshore projects at €220,000/MW. He added PNE plans to set up a private equity fund for offshore developments.  

In results reported at the end of March 2010, PNE Wind clocked up consolidated net income of €10.2 million on revenues of €137.3 million in 2009, after €17.1 million on revenues of €74.6 million in 2008.

It implemented a total 122MW of wind stations in 2009, after just 6MW in 2008, whereby construction progress was adjusted in 2008 to achieve more completions in 2009 to take account of the higher feed-in payment for electricity from wind stations commissioned in 2009 compared with 2008.

The company also plans to engage in the German repowering market by buying up old wind stations and running them until the planning for their repowering, which takes several years, is completed. It expects to make a first purchase of a 10MW station in northern Germany this year. 

In its guidance for the future, PNE says Group Ebit will lie on average "at the least" in the range €14-18 million during the next three years, compared with €14.7 million in 2009. It adds that firm forecasts are "difficult to estimate" for the individual years due to the nature of its operating business and the related short-term fluctuations of earnings. 

Since the company was founded in 1995 it has installed a total 772MW.  PNE Wind itself owns just 26MW of wind capacity and plans to expand this "to a small extent".

 

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Windpower Monthly Events

Search more than 4,500 companies in the Windpower Directory

Latest Jobs

[DAYS_LEFT] DAYS Subscribe Now

Left of your Windpower Monthly free trial

Your free trial Subscribe Now

to Windpower Monthly has expired