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German developer Plambeck moves into US
1 December 2008
German wind developer Plambeck Neue Energien, one of Europe's most established independent wind power producers, has founded a 100% subsidiary in New York City, Plambeck New Energy USA. In its first major step outside Europe, Plambeck hopes to buy up to 2.5 GW of American wind projects in the medium term with local joint venture partners it hopes will come forward. The move is part of a strategy "to force company growth through onshore wind projects in foreign strong growth markets." Plambeck already has joint ventures in Hungary, Bulgaria, Britain, Ireland and Turkey. The US ambitions exceed the company's current onshore project pipeline. It is developing 1.3 GW of projects in Europe and Turkey, including 400 MW in Germany, of which 114 MW are under construction. The firm also has two offshore wind projects in German waters with permits for construction: Borkum Riffgrund, a joint venture with Denmark's Dong Energy for 77 multi-megawatt turbines, and the 400 MW Gode Wind I project with Dutch partner Evelop. Plambeck is also developing an offshore project, Beltsee, in the Baltic Sea, currently in the permitting process. It is considering looking into offshore projects abroad.
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