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Germany's WPD takes over six wind fund management companies
1 April 2003
German wind finance company WPD has taken over six wind fund management companies in a move that reflects the trend to consolidation in the sector. WPD was previously responsible for the financial administration of the companies. It secured the 100% share ownership from Jens Peters and Wolfgang Trüschel, majority stakeholders in the ailing wind development and financing company P&T Technology of Hamburg. The six companies were in charge of six wind farms with a combined capacity of 58.5 MW. They also had responsibility for their technical management, but WPD has put this work out to tender, it says, to meet the more stringent technical requirements of insurance companies. While it does not own any wind farms, the takeover means WPD now administrates 30 projects with a combined capacity of 380 MW.
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