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REpower teams up to market wind fund
1 October 2002
German wind turbine manufacturer REpower Systems is further spreading its wings into wind project development and finance. Its development division, Denker and Wulf, has teamed up with finance company Lloyds Fonds to market a private equity wind fund. All three companies operate out of Hamburg, from where until now Lloyds has focussed on shipping funds. Denker and Wulf, 85% owned by REpower, is a developer of wind projects which exclusively use REpower technology. The Coppanz wind fund marks a turning point for both companies. "If it works well, we'll sell more stations this way," says Thorsten Levsen of Denker and Wulf. The fund has been launched to raise equity for a 12 MW wind farm of REpower MD70 1.5 MW turbines, which came online last month near Jena in the east German state of Thüringia. By the end of the year Denker and Wulf will have developed about 270 MW of wind capacity, "of which around 90 MW will go online this year," Levsen says.
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