Plambeck sells stake in Danish firm to raise expansion cash

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Germany's Plambeck Neue Energien plans to sell some of its shares in Danish blade technology company SSP Technology to raise capital for expansion of both the blade company and Plambeck's core activity, wind project development. Plambeck has around 1400 MW of wind capacity in development in Germany and is in joint ventures in Hungary, Bulgaria and Turkey. "We want to extend this up to 10,000 MW in the medium term," says the company's Martin Billhardt. Plambeck also hopes to increase its offshore portfolio to 5000 MW in the medium term, up from 2700 MW under development today. The company currently holds a 67% stake in SSP, a company that makes moulds, tools and components for the wind industry, in particular for rotor blades. Plambeck has not said how many shares it plans to sell as yet. As well as helping to finance Plambeck's expansion, the capital increase will also help fund future growth plans in new markets for SSP, it says.

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