- Category: Company News
Robert Gleitz has been named General Manager of GE Energy’s wind segment, reporting to Mark Little, Vice President – Power Generation for GE Energy. A graduate of Institut National des Sciences Appliquees de Lyon (INSA) in France, Gleitz holds a diploma in science and energy engineering. He began his career at GE in 1999, following the company’s acquisition of Alstom. During his tenure, he has provided leadership within a variety of energy technologies. He has served as Director of GE Energy’s European projects group, as well as Commercial Director supporting sales and commercial operations for GE. More recently, Gleitz served as Managing Director of GE Energy Products Europe, based in Belfort, France.
- Category: Company News
At the annual general meeting, Nordex AG’s shareholders passed the resolutions approving the recapitalisation plans with a majority of over 99.8%. Initially, two shareholders each with 100 shares voted against all resolutions, but they withdrew their objections a week later. The recapitalisation model contains the following main elements: o a ten-to-one reduction in the company’s capital o a cash capital increase of at least 30 and up to 41.64 million new shares o a reduction in bank liabilities by around € 28 million through the issue of up to 12 million new shares or an alternative solution with a comparable economic effect o a renewal for a further four years in the existing credit facilities o an increase of up to € 60 million in the credit facilities.
- Category: Company News
Wind turbine manufacturer Windflow Technology has received a research grant of NZ$ 130,000 from Technology New Zealand through its Technology for Business Growth (TBG) scheme. The grant will provide half of the funding for the company to prove the suitability of its Windflow 500 turbine for use in small, isolated networks such as islands or remote communities. The research will involve the company in refining the torque-limiting feature of its gearbox to include a dynamic control system that will respond to both the varying demands of a small network and the available wind energy simultaneously. The research project will also demonstrate the ability of the Windflow synchronous design to ‘ride through’ a fault in the electrical grid. Fault-ride-through is important not only for isolated grid applications but also for national grid-connected wind farms as wind power becomes a significant source of generation. The issue of wind power’s fault-ride-through capability has become a major concern internationally in recent years.
- Category: Company News
The LM Glasfiber Group generated revenue of DKK 2,260 million in 2004, which is an increase of 32% relative to 2003. Earnings before interest, taxes, depreciation and amortisation and special items (EBITDA) amounted to DKK 520 million, up from DKK 343 million in 2003. Profit before tax amounted to DKK 24 million against a loss of DKK 300 million in 2003. Operating activities generated a cash inflow of DKK 295 million compared with DKK 111 million in 2003. The financial performance is slightly better than the guidance provided during the year. For 2005, the group forecast an increase in revenue of 0–5% to between DKK 2,260 and 2,375 million, and a pre-tax profit between DKK 100 and 110 million. The Supervisory Board of LM Glasfiber Holding A/S discussed the company’s audited financial statements for 2004 on 10 March 2005 and recommended that the financial statements be adopted at the Annual General Meeting to be held on 28 April 2005.
- Category: Company News
Over the past decade, Econnect has carved out a niche market in the renewables industry for its consultancy business. Econnect has for some time been responding directly to the needs of the market by undertaking a turnkey design and build role for four wind farms and two landfill gas sites. Its most recent project is Airtricity’s 72.4MW Meentycat wind farm in Donegal, Ireland, which was taken over by Airtricity on 16 February 2005. It was originally known as the Donegal Cluster, and consisted of five interconnected wind farms. Econnect had full responsibility for the electrical distribution system including the laying, termination and testing of 75km of cables between the wind farm turbine generators and the newly constructed substation. On 1 March 2005 another subsidiary within the Econnect Group of companies, Econnect Construction Limited, was launched. With Paul Glendinning at its helm, Econnect Construction will be a ‘one-stop-shop’ for turnkey electrical infrastructure services for renewable energy projects. Econnect Construction offers clients numerous benefits by acting as the single point of responsibility for the electrical works, offering a comprehensive range of onshore and offshore capabilities. Econnect Construction Limited completes the Econnect Group of companies, which includes Econnect Limited, Econnect Australia Pty Ltd and Econnect Ireland.
- Category: Company News
On 6 January 2005 a court in the Netherlands declared Zephyros BV bankrupt. Last November the company had opened a new production facility in Den Helder, the Netherlands. They had orders from Finland and Japan to produce 22 turbines. Also in November 2004 it was announced that the Japanese companies Japan Steelworks and project developer Harakosan were interested in investing in the company and possibly acquiring all shares of the company in the future. At that time Zephyros’ debts were around € 14 million.
- New staff appointed at MacArtney
- NRG holds grand opening for new building
- Wind Prospect’s megawatt record
- DeWind back in business
- REpower revises earnings forecast for 2004
- Change in the board of management of Vestas Wind Systems A/S
- Nordex’s 2003/04 financial statements on target
- New president and CEO of NRG Systems