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Spanish turbine maker Ecotecnia opens French affiliate
1 January 2004
In a double announcement, Spanish turbine maker Ecotècnia has opened a French affiliate, Ecotècnia France, and resumed wind project development, an activity it had transferred to partner Vendaval in 2000. "The long term objective of Ecotècnia France is to reach a higher market share than it currently has in Spain," says the company; it has supplied 12% of Spain's wind power capacity. Ecotècnia France will search for customers while forging partnerships and synergies with local companies -- especially those with component, construction and electronics activities. In a second phase, Ecotècnia hopes to make turbines in France, either directly or by allowing licenced manufacture. The company expects the French government to bring in "spectacular results" in wind power by 2010. Meanwhile, Ecotècnia and its partners in Vendaval have all underwritten a EUR 7 million capital expansion, bringing capital to over EUR 20 million. The boost is to support Vendaval's new focus on wind project investment only. Ecotècnia will resume project development, both at home and abroad, though aims to sell projects at the construction stage. Vendaval has shares in 313 MW in ten wind plants and 272 MW building, all using Ecotècnia technology. Ecotècnia holds a majority 40% stake in Vendaval, while the rest is owned by fellow members of Ecotècnia's holding corporation, Mondrogón Corporación Cooperativa.
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