Germany

Germany

Anglo-German wind developer moves into Spain

An Anglo-German wind alliance has been clinched for developing projects in Spain. German project financing company Bobikiewicz and Partner and British wind developer Renewable Energy Systems (RES) have founded a joint-venture company named Econova Energias Renovables, each with a 50% stake. It will develop, construct and finance wind stations on the Iberian peninsula. Econova has already lodged permit applications for 600 MW of wind capacity, Bobikiewicz reports. Construction of the first project is projected for 2003. Bobikiewicz and Partner, based in Freiburg, has marketed wind funds -- a common financing mechanism for German wind projects in which private investors are invited to contribute equity -- exceeding DEM 400 million over the past five years. The company operates nearly 150 wind turbines at eight locations in Germany. RES has installed about 210 MW of wind capacity worldwide and has another 480 MW under construction, half of which is in Texas.

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