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World Wide Wind files for bankruptcy in Denmark
1 March 2003
World Wide Wind A/S, an international wind developer operating out of Denmark (Windpower Monthly, November 2001), entered bankruptcy proceedings last month. Its Danish subsidiary, Jysk Vindkraft A/S, suspended payments. World Wide Wind has 15 subsidiaries and is now in the process of selling all its wind development activities. These include projects in Spain, Estonia and Poland. The company was tipped into bankruptcy following problems with a series of Danish sales (Windpower Monthly, November 2000). The government is investigating whether 45 turbines sold by Jysk Vindkraft are eligible for subsidy. The owners of the turbines are meantime refusing to pay the full asking price to Jysk Vindkraft. Partly for this reason, and partly because it is owed money by another subsidiary, World Wide Wind told a bankruptcy court on February 17 that it is unable to meet its bills.
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