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German developer Abo Wind sets up subsidiary in France
1 September 2002
German wind project developer Abo Wind has established a French subsidiary named Abo Wind Sarl with offices in Toulouse and Colmar. Set up with just four employees initially, the company is expected to grow in the hands of managing director Benoit Praderie to become an "independent project developer with a good market position amongst the medium-sized developers active in the French market." So far, Abo Wind Sarl has secured four sites for wind stations in France, near Carcassonne in the Aude Departement, with potential for 22 turbines, or 30 MW. Contracts are close to being signed for another two projects in Elsass-Lothringen with potentially 12 MW each, according to the Wiesbaden-based parent company. Abo Wind Sarl is working on another fives sites in the same regions. It hopes to have the first wind station completed in 2004. Abo Wind, a stockholding company, has so far installed 63 turbines with a combined capacity of 72 MW and expects to add another 50 MW this year. Profit in 2001 was EUR 0.5 million, 36% more than the previous year. Depending on the capital market situation Abo Wind says it plans a capital stock increase and a listing for over-the-counter share trading "within the foreseeable future." The company is also developing biomass power stations.
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