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New Windkraft Nord firm
1 September 1998
As part of its restructuring, wind plant developer Windkraft Nord (WKN) of Husum in north Germany has spawned a new financing firm, Recon Beteiligung. Recon, or "Regenerative Energie Concepte" will handle broad marketing activities and specialise in developing financing models for renewable projects. In particular it will set up systems for private investors to place their money with companies seeking capital for renewables projects. WKN has 18 projects planned for 1998 and 1999 using 115 wind turbines that will require about DEM 40 million in private capital, a target that Recon says it will reach within two years. WKN, which works in close operation with Danish wind turbine manufacturer Vestas, already operates six wind stations in Germany with a combined capacity of 12.25 MW provided by 28 turbines. Eight further wind stations are to be opened this year, bringing turnover to DEM 65 million, and ten more are planned for 1999, increasing turnover to DEM 75 million, says the company.
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