Winwind expands in Finland opening new factory

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Finnish wind turbine manufacturer Winwind is investing EUR 20 million in a new factory at the port of Hamina near the Russian border, 150 kilometres from Helsinki. It is the company's first significant expansion since Masdar, a subsidiary of the Abu Dhabi government's Future Energy Company fund, bought a EUR 120 million stake in Winwind in September. The new plant will assemble up to 160, 3 MW turbines a year for the European market. A doubling of the factory's production capacity by 2011 is on the cards. Manufacture of the Winwind 1 MW and 3 MW turbines will continue at the existing factory in Oulu, in northern Finland, while the Hamina location gains the turbine producer access to shipping routes. Masdar's primary interest in Winwind is to expand the company's product range and help it pursue large contracts across Europe, Asia, the Middle East and North America. Masdar holds a 33% stake in Winwind while Avis Ventures, a subsidiary of India's Sterling Infotech Group, holds a 40% majority stake. Winwind is also building a factory in Chennai, India. The Hamina municipality's energy subsidiary, Haminan Energia, has contracted delivery of four 3 MW turbines for a wind farm in the Summa district.

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