Germany

Germany

Warburg Pincus to make Conergy 900 kW model

German solar company Conergy has sold its wind turbine division, Conergy Wind, to private investor Warburg Pincus. The sale will result in a one-off, largely non-cash, write-off of approximately EUR 35 million from its "discontinued operations," says Conergy, which hit financial difficulties last year. Conergy Wind has been renamed PowerWind. It employs 64 people in development, sales and at a production facility at Bremerhaven, where the company's 900 kW turbine is made. Just three prototypes of the machine are operating, two in Bremerhaven and one in Italy. All came online in 2007. Conergy says 14 machines have been sold this year and sales are expected to reach 100 in 2009 and 200 in 2010. Its target markets are southern and eastern Europe. Conergy has also divested its micro wind turbine business to an unnamed buyer from the wind industry, but says it has no plans to sell its wind and renewables project development division, Epuron.

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