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Germany

MVV in good position after sale of DeWind to British FKI group

The sale of DeWind to the British FKI group (page 20) better positions MVV Energie, a publicly traded municipal utility, for wind project development and management. MVV sold its 33.3% stake in DeWind, a wind turbine manufacturer, while at the same time buying DeWind's share of Red project management. Red now "achieves more independence in its choice of turbines and thereby more growth opportunities," says MVV. The utility will concentrate on energy marketing and supply and services, but with a focus on renewables, while dropping operation of conventional power stations, says Red's Dietrich Mayer. Red is to be grown further by "targeted acquisitions" of companies and/or projects, according to Mayer. It will "energetically" expand wind plant development Europe-wide. The MVV Group reported in late May that Red had a wind project pipeline of several hundred megawatts in European countries and anticipates that within a few years "it will number itself amongst the most significant European companies active in wind energy." Apart from the home market, where it has installed nearly 20 MW, the focus is on Ireland, Spain, France and Poland. The company is also dabbling in Argentina, Turkey and Mexico. The goal is to sell projects once developed or to retain them in a new company currently being set up by MVV called Invest, says Mayer. MVV Invest and Red may also work together on marketing wind funds to finance the projects. The existing co-operation with Munich-based wind fund company BVT will continue, however. Red was installing seven DeWind 1.25 MW turbines at a site near Unna in June, which it will then sell to BVT.

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