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Vestas sells off Pacific-Asia division of global project development company
1 January 2005
Vestas has sold the Asia Pacific division of Global Renewable Energy Partners (GREP) to Australia's Energreen Wind. GREP was NEG Micon's project development company, before it merged with Vestas. Energreen Wind, previously known as Wind Development Australia, has around 450 MW in planning in South Australia, New South Wales and Queensland, with a further 300 MW at screening and development stage in New Zealand, according to the company's Steen Stavnsbo. He describes the business in New Zealand as risk diversification, noting that "the situation is not super positive in Australia right now." A former NEG Micon man, Stavnsbo was previously GREP's CEO. Evergreen has earlier worked as a project development partner with GREP and is keen to continue its pursuit of projects in countries such as India, Korea, the Philippines and China. "In Energreen Wind it is our ambition to continue our focus on Australia and New Zealand as primary markets, but we want to diversify and capitalise on our international network and partnerships and access projects in the Asia Pacific region which we established in GREP," says Stavnsbo.
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