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Germany

Germany

German developer expands abroad -- RWE and renewables

Harpen, renewable subsidiary of German energy giant RWE, continues to expand its energy portfolio of wind, hydro and cogeneration plant. Commissioning of the Avellino plant near Naples, Italy, raised its renewable power generation to 347 MW in 2003. Of that, wind made up 144 MW, with 119 MW installed in Spain, 13 MW in Italy and 12 MW in Germany.

This year Spain is the focus for growth, says Harpen. Work began in 2003 on eight wind stations in the Castilla y Leon region, being built by Harpen's Spanish subsidiary Aersa, together with local partners. Harpen is behind 71 MW of the project's 177 MW. Five of the stations (130 MW) are bundled in project company Danta, based in Soria, owned in equal stakes by Aersa and local firm Preneal. The other three (47 MW) are being built by a company named Aldehuelas, in which Danta and Spanish utility Endesa each have 47.5%. Local parishes own the remaining 5%. Aersa, based in Barcelona, has a further 130 MW of wind projects in the pipeline which will add to its existing portfolio of 131 MW.

decision to sell

In France, too, Harpen has clinched deals with local partners. In 2003 it applied for permits for eight projects with a combined capacity of about 100 MW and expects to start installing the first turbines in 2004. Once built, Harpen intends to sell its French wind plant.

Harpen's energy division raised its turnover by nearly 23% to EUR 210 million in 2003, with EUR 12.3 million of the increase derived from renewables generation. Energy accounted for 79.4% of Harpen's total turnover with its property division accounting for the remainder. About 71% of total investments flowed into the energy business.

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