Germany

Germany

Südwind born again

Troubled wind turbine manufacturer Südwind of Berlin has found a new investor to set it back on its feet again after being forced into bankruptcy in May when its credit line was frozen by the company's bank, Commerzbank. An investor consortium led by Jobluft Walter Junior signed a contract on July 4 with the Berlin official receivers to buy the most important parts of Südwind -- office and factory equipment, turbine construction plans and parts. These are now placed in a new company, Südwind Energiesysteme, which is also taking over 15 of the former 35 Südwind employees. The two other partners in the consortium are a medium-sized engineering company, Vario, of Greifswald, and an investment company, Hanseatische Industriebeteiligungs und Projektentwicklungs Gesellschaft of Hamburg. Walter Junior, now Südwind Energiesysteme's managing director, holds stakes in both these companies. "Südwind has resumed full operation and delivery capabilities," he reports. "The new company is equipped with the necessary capital to secure the fulfilment of the former Südwind's existing contracts as well as agreed future orders, and also to guarantee a solid base for all future activities." The re-founded company expects to install around 15 turbines in Germany this year compared with 20 last year, including the first four Südwind 600 kW turbines, to go in the ground near Cottbus in eastern Germany in October or November for local wind company Prometheus.

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