Analysis: Enercon produces solid performance in 2013

GERMANY: Enercon is back on track in the first quarter of this year, installing 720MW in the first three months compared with just 490MW in the equivalent period of 2013. Arguably solid, but not quite up to the first quarter of 2012 of 750MW.

Enercon production facilities in Aurich
Enercon production facilities in Aurich

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But on an annual basis, steady growth continues at Enercon, which is celebrating its 30th anniversary this year. Its operating performance grew to EUR 4.1 billion in 2013, a 5% increase on EUR 3.9 billion in 2012, and EUR 3.8 billion in 2011, the company reported on 10 April 2014.

Revenue in 2013 amounted to EUR 3.9 billion in 2013, but no indication was given of net profits. This time last year, the company had indicated that net profits in 2012 reached roughly EUR 500 million, an increase of up to EUR 100 million on 2011

UEE Holding, which encompasses Enercon and its sister companies including Wobben Research and Development, and Enercon companies for production, logistic, financial services, IT services and Enercon Independent Power Producer, clocked up revenue of EUR 5 billion in 2012, with a net profit of EUR 607 million. In 2011, UEE Holding's revenue had amounted to EUR 3.93 billion, with a net profit of EUR 473 million

After getting around 3.7GW in the ground in 2013, of which 59% went for export and 41% was installed in Germany, Enercon expects to increase installations to about 4.1GW in 2014 and 4.2GW in 2015.

Up to 31 March 2014, Enercon had installed 33.97GW around the world, of which nearly half — 15.21GW — was in Germany. Its total at end-2013 was 33.2GW, compared with 29.5GW at end-2012.

The company now has 36 branches , of which ten are in Germany, with the rest spread across 21 countries, and supplies into 30 markets. As company policy, these do not include the USA, China or India, and nor does the company have any offshore wind ambitions.

Turbine manufacture remains Enercon's core business. Two prototypes — 2.35MW and 3.05MW machines for high wind regions — to be installed, tested and moved into serial production in 2015, and another, larger turbine model, for which details have not been revealed, have been heralded for 2016.

Diverse interests

But, for a thoroughbred turbine builder, the company has an unusual range of other activities. It has built up its own rail transport company with four hubs in Germany and routes into Italy (to collect copper supplies) and Portugal (where it has manufacturing works) and is beginning to transport for other industrial companies. Its main export route to the world, the port of Emden close to its Aurich headquarters, is close to maximum handling capacity, so Enercon is now sending one train a week to the Jade-Weser port in Wilhelmshaven.

It has also built up considerable electricity transmission know-how, with involvements including installation of a 1.2GW transformer station for wind generated power in Sweden and a store for hydrogen generated by an electrolysis plant connected within the 140MW RH2-Werder/Kessin/Altentreptow wind farm in Mecklenburg Vorpommern comprisng 28 Enercon turbines. The company is now involved as a strategic partner with municipal energy utilities in its home town of Aurich, as well as in Emden, Osnabrück and Magdeburg.

In Aurich and the surrounding region, where 760MW of wind and 30MW of biogas capacity is installed, and with large industry power consumers such as Enercon's own foundry, and the VW production plant in Emden, the company is involved in the development of a model 100% green electricity project.

With stakes in nearly 200 wind farm in Germany, Enercon is also growing in status as an independent power producer and plans to strengthen its position as a so-called "direct marketer" and develop electricity trading activities to use new opportunities arising under Germany's new renewables regime expected to be implemented on 1 August 2014.

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