Germany

Germany

Rapid growth for public wind developer and operator

Continuing its rapid growth, Plambeck Neue Energie (PNE) of Germany has bought the rights to develop and operate eight new wind stations of 60 turbines total. Meanwhile, PNE is downplaying the lower than expected profits last year of DEM 0.9 million, blaming it on the company's stock market entry at the end of the year.

Continuing its rapid growth-and showing no signs of a slowdown after low year-end profits in 1998-Plambeck Neue Energie (PNE) of Germany has bought the rights to develop and operate eight new wind stations. The sites, previously owned by Gesellschaft für Erneuerbare Energien, a renewable energy business, are all in Saxony-Anhalt and Brandenburg in eastern Germany.

The sites allow for the construction of 60 wind turbines and Plambeck says investment in the projects from 2000 to 2001 is expected to reach DEM 100 million.

Meanwhile, PNE is downplaying the lower than expected profits last year of DEM 0.9 million, blaming it on the company's stock market entry at the end of the year. In December the company was listed in the new markets section of the Frankfurt stock exchange, the first wind development company to go public in Germany (Windpower Monthly, February 1999). Without this one-off expense of DEM 2.3 million, profits would have been greater, the company points out.

PNE further states that profit on ordinary activities reached DEM 4.3 million, significantly exceeding the projected DEM 3.3 million due to speedy implementation of projects, which saved on financing and other costs.

100 MW a year

With sales in 1997 of DEM 10 million and DEM 53 million in 1998, PNE is predicting a 1999 turnover of DEM 177 million, with profits of DEM 11 million.

The company now operates 33 AN Bonus and Enercon turbines with a total installed capacity of 17 MW at the Nordleda wind station in Lower Saxony and has a further 18 units from AN Bonus and Nordex in Saxony Anhalt and Lower Saxony (Windpower Monthly, February 1999). This year PNE is expecting to complete about 70 MW of wind development in seven projects, adding this to its existing 40 MW. In the future, the company aims to add an average 100 MW of wind capacity per year.

Offshore portfolio too

In early May, the wind station planning construction and operation division of PNE bought three wind station sites which the company anticipates will eventually add an annual DEM 60 million to company turnover. The sites are in the Länder of Hessen (2 MW), Mecklenburg-Vorpommern (13 MW) and Saxony-Anhalt (9 MW). The company declines to name the exact locations of the projects at this stage. Construction licenses for two of the sites have been granted, and the third is expected. Meanwhile, the company is negotiating to secure several more projects and it intends to submit applications for offshore wind projects in the North Sea and Baltic Sea.

PNE has recently been granted a license to market electricity on the newly liberalised electricity market, but as yet it cannot take advantage of the niche for green power sales. Terms and conditions for third party access to the grid must first be worked out in Germany before PNE has access to customers (Windpower Monthly, September 1999). In addition, PNE plans this year to open a new line of business, Serviceleistungen für Windkraftanlagen, which will offer wind turbine services and maintenance.

PNE's new director, Axel Henkel, joined the company in April 1999. He had previously worked for the marketing department of utility RWE Energie. PNE employs 20 people.

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