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Wind 7 boosts capital basis
1 April 2000
Wind 7, a public limited company set up in October by seven of Germany's oldest wind developers, has boosted its capital base to EUR 420,000 with an injection of EUR 370,000, paid in by the founding companies in January. Wind 7 had originally planned a public capital increase for the end of last year, but it was postponed due to uncertainty over the new renewable energy law, passed in February. Now Wind 7 hopes to publicly float shares for EUR 5 million in June, money the company will use for new projects. It says it reduces risk for investors by buying only turnkey projects comprising turbines from different manufacturers at a variety of sites. The company points out that while tax write-off potential for limited partners is becoming unattractive under German law, Wind 7 offers private investors the chance to participate, tax free, in stock equity gains. Wind 7, based in Eckenförde, comprises: Planungsburo Jesaitis, Mitteldeutsches Windenergie, NEVAG, Ostwind Betrieb, EAB Projektbau, Umweltkontor and Okostrom Handel.
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