Avis Ventures, a Mauritius-based investment company subsidiary of India's Sterling Infotech Group (SIG), has injected EUR 20 million into Finnish wind turbine maker WinWind to become its biggest single shareholder with a 40% stake. The shares are being acquired from Proventia Group, an environmental technology systems development company that bought a 65% majority stake in WinWind in October 2004. Proventia maintains its holding in the 60% of WinWind not held by Avis along with other Finnish investors, including private equity company Head Invest Oy, mutual pension insurer Varma, Powest, and Pohjolan Voima Oy. WinWind expects sales in the current financial year will climb 30% to EUR 45 million, with exports accounting for more than 80%. The company's main export markets are Estonia, Sweden, Portugal and France. WinWind's chairman, Matti Vuoria says SIG regards WinWind as "an excellent platform to create a world leading energy solutions provider." For its part, SIG boss V. Srinivasan says his company's involvement in WinWind will create new opportunities in Asia for the wind turbine maker. Established in 2000, WinWind makes 1 MW and 3 MW turbines from assembly plants in Ii and Loviisa in Finland and subsidiaries in Portugal, Estonia and China. SIG is a diversified global business conglomerate founded in 1988.
Leading business intelligence for the wind community.
- In-depth news, analysis, market insight and trends.
- Join today and get your first 30 days free
In these extreme times, we need creative measures to find answers to pressing challenges – and this community-driven energy initiative is already getting legislative backing…
Tech that has more commonly been used to monitor damage to structures such as bridges is now coming to the fore in the wind industry as a more efficient way to detect blades that have been compromised
No wind farm or operator is the same. That’s why Winergy offers turbine-ready service solutions
Keynote speaker at Blades USA 2022 – David Kaskie, vice president of Products & Systemsdivision, MISTRAS Group – on the importance of getting creative.