Another Plambeck acquisition

Plambeck Neue Energien has acquired another wind energy development company, Norderland Nature Energy, through a share swap transaction. With the deal Plambeck has secured prospective wind projects worth about DEM 500 million the company says. "Plambeck is now undoubtedly market leader in the German wind energy branch," boasts Plambeck's chairman Wolfgang van Geldern. Before the deal, Norderland was preparing to go public. The take-over, however, was "100% friendly," stresses van Geldern. The shareholders of Norderland have received 3.75 million Plambeck shares in return for their company. Norderland was created by two wind developers named Eisenhauer and Böttcher of Westerholt in east Friesland together with WinNEG of Hamburg. "Both have a good relationship with turbine manufacturer Enercon. This is being successfully maintained," Plambeck says. Norderland has a project portfolio in Germany of more than 170 sites due to be developed in 2001 and 2002, Plambeck reports. It adds that Norderland also has secured sites for wind projects abroad "that can now go ahead."