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Developer awards first dividends to shareholders

Wind plant developer Plambeck Neue Energien expects turnover and profits to more than double this year after a post tax profit of DEM 3.4 million (i1.7 million) on sales of DEM 110.8 million in 1999. For the first time since Plambeck's stock exchange listing in late 1998, it will pay a DEM 0.5 dividend per share. Currently, it has ten wind stations totalling 60 MW in various stages of completion in which it has invested DEM 150 million. Contracts for another two small stations, for a total of 13 turbines, are close to being sealed, Plambeck reports. The company says it is also moving into biomass and solar generation.

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