German production line for sale

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German renewables company Conergy is seeking to sell the Bremerhaven production line for its 900 kW wind turbines just as it made its first commercial sale of the machine. The company will either divest 100% or retain a minority stake.

"We are in negotiations with investors which should be wrapped up within the first half of 2008," says the company's Clemens Thoma. He declines to say how many investors are interested, nor whether they are financial or strategic investors, or if they are companies which already have an interest in turbine manufacture.

Conergy recently sold two 900 kW turbines to German Energiequelle, an experienced wind project developer with 600 MW installed in Europe. Energiequelle has an option to acquire further Conergy turbines in 2008 and the two years that follow. With an estimated production of 100 wind turbines at the Bremerhaven works this year, turbines are available for delivery in 2008, says Conergy. A potential customer is sister company Epuron, formerly Voltwerk, which has installed 235 MW of wind power since 1998, including projects in Italy and France. Epuron also has activities in Australia, where it sold 90 MW of wind project rights last year to energy company Origin and set up a joint venture with financial services company Macquarie to develop a 1 GW wind station in New South Wales by 2014.

Epuron's other target markets, for which the 900 kW unit may be suitable, are eastern Europe, Turkey and India. "Epuron's activities in the wind sector are one reason for considering the retention of a minority stake in Conergy Wind," says Thoma. Epuron already has a framework agreement with Repower Systems for supply of 160 MW.

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