Alternative Power

 

 

Siemens (News - Alert) Project Ventures GmbH (SPV), a subsidiary of Siemens Financial Services and WKN Windkraft Nord AG have entered into a joint venture to develop and accomplish wind-energy projects in central and eastern Europe. They have set up a new company called "Innovative Wind Concepts GmbH" (IWC) with each holding 50 percent of the shares.

 

The new company will be based in the House of Future Energies (Haus der Zukunftsenergien) in Husum, northern Germany, which happens to be the headquarters of WKN AG.

 

According to the news release, Siemens Project Ventures and WKN have pledged to share their experience and resources to future joint projects as well. SPV deals with infrastructure projects worldwide targeting on energy, telecommunications and airports. SPV is presently holding stakes in seven international projects with a total volume of US$4 billion.

 

"Wind energy is one of the future’s key markets for alternative energies. With WKN AG, we’ve found an ideal partner for this fast-growing business field,” said Hans-Joachim Schulz, Managing Director of Siemens Project Ventures. “Siemens Project Ventures GmbH has extensive in-depth experience in developing international infrastructure projects and can in this way broaden its investment base."

 

Christian Clausen, a member of WKN Windkraft Nord AG’s Management Board, hopes that the joint venture will operate successfully with Siemens Project Ventures.

 

 

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